UK development finance institution British International Investment (BII) has provided USD 15 million (EUR 13.0m) in mezzanine debt to Starsight Energy Africa Group to advance solar energy solutions for commercial and industrial (C&I) customers in West Africa.
The capital will be used across Starsight’s existing operations to support growth and scale energy solutions for users. The majority will be directed to Nigeria to address the country’s power shortages and heavy reliance on diesel and petrol generators. A portion of the funds will also be allocated to maintain service levels for existing clients, including asset replacement.
Starsight provides clean on-grid and off-grid energy services to C&I customers in Sub-Saharan Africa. The company is backed by Africa-focused private investment firm Helios Investment Partners and African Infrastructure Investment Managers (AIIM).
(USD 1 = EUR 0.871)
BII backs Starsight with USD 15m to scale solar in West Africa
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