Shell Purchases Daystar Power, in Lagos.

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Under the condition of regulatory approvals, Daystar Power has declared that it will be bought by Shell; this is to help commercial and industrial (C&I) enterprises in Africa reduce their carbon footprint and lower their electricity costs.

Daystar claims that it would continue to run as a stand-alone firm, with its main office remaining in Lagos, Nigeria. They also claim that they are on schedule to raise solar capacity by 135% in 2022.

A plan for growth Following its acquisition by Shell; Daystar Power has declared aspirations to grow into the Eastern and Southern African markets.

Mordor Intelligence predicts that during the next five years, the East African renewable energy market would expand. The expansion will be at a compound annual growth rate (CAGR) of more than 6.5%.

Nairametrics.

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