Starsight Energy and SolarAfrica Merge to Become Pan-African Leader in Renewables

On 1st August 2023, Starsight Energy and SolarAfrica announced that they have completed the process of merging in order to become a leader in renewable energy in Africa. The companies provide renewable energy solutions with storage option to residential, commercial and industrial clients.

SolarAfrica started operations under the name of NVI Energy in South Africa in 2011 and specializes in solar finance through Power Purchase Agreements (#PPA). Then, in 2014, the company set up shop in Mauritius and rebranded as SolarAfrica with the ambition to serve the whole continent. The merger is backed by Helios Investment Partners (“Helios”) and African Infrastructure Investment Managers (“AIIM”).

So far, SolarAfrica has implemented more than 135 solar projects across Africa, cumulating a total of 60 MW. On the other hand, Starsight Energy has an installed base of 650 solar projects totaling more than 460 MW. Thus, the combined entity will now have nearly 800 #PV projects across Africa exceeding a total capacity of 520 MW with 60 MWh in battery storage.

“The supply of renewable energy in Sub-Saharan Africa is relatively fragmented with several suppliers in the market. This merger is a substantial step for us and will provide a true pan-African platform to deliver clean renewable energy in key economies.”

Group CEO, Paul van Zijl

The plan for the merger was publicized in September 2022 and will allow to extend coverage and achieve economies of scale. The company is committed to the #EnergyTransition and has already contributed to offset carbon emissions by 360,000 tonnes. Together, they have more than 2 GW of renewable projects in the pipeline.

The combined entity employs 275 people and have offices in seven African countries, namely South Africa, Namibia, Kenya, Tanzania, Uganda, Nigeria and Ghana. The Mauritius office acts as a hub and leverages the Mauritius #IFC to raise capital and structure the deals.