Daystar Power develops and operates hybrid renewable energy systems for businesses across West Africa and currently manages and operates 150 power plants in Nigeria. The company supplies hybrid solar power solutions to clients in financial services, manufacturing, and agriculture. It plans to increase installed solar capacity to 140 MW by 2024. This year Daystar has raised $62 million, including a $38 million Series B in January and a $4 million financing for its Ghanaian subsidiary with DEG. Daystar is collaborating with the IFC’s Energy2Equal program, supported by the Canadian government, to address gender disparities and increase women’s participation in leadership and technical roles. The company says it will use new funding to expand project capacity and support additional Nigerian businesses with clean, cheap power. Daystar Power, founded in 2017, provides hybrid solar power solutions to businesses through its Solar-as-a-Service and Power-as-a-Service offerings that reduce clients' overall power costs. The company is active in Nigeria, Ghana, Togo and Senegal and maintains a representative office in Ivory Coast. It currently has 23 megawatts of installed capacity and has offset approximately 5,000 metric tonnes of CO2 to date. Management reports a more than 50-fold increase in power-as-a-service revenue over the last two years. Daystar serves clients in financial services, manufacturing, agricultural, and natural resources sectors. The company plans to expand installed capacity to over 100 megawatts, grow operations in Nigeria and Ghana, deepen its regional presence, enhance its digital offerings, and expand local teams. Daystar Power, founded in 2017 and based in Lagos, provides solar power and energy-efficiency solutions for commercial, industrial, and agricultural customers. The company deploys pure solar and hybrid solar-fossil fuel systems and offers transparent payment plans, scheduled maintenance, and claims 99.9% uptime with no upfront costs. Daystar is targeting the West African market. Co‑founded by Christian Wessels and Jasper Graf von Hardenberg, the company seeks to scale its energy provision services. To support that scaling, Daystar secured $4 million in debt financing from SunFunder. Its acceptance into Endeavor Nigeria's entrepreneur network is intended to expand access to global credit and customers. Daystar Power, founded in 2017 by Christian Wessels and Jasper Graf von Hardenberg, provides solar power and battery storage solutions for commercial and industrial clients. It operates two models: Power as a Service (PaaS), supplying all site power for a fixed service fee, and Solar as a Service (SaaS), selling solar-generated power per kWh with a guaranteed offtake. Its systems range from 20 kWp to 5 MWp, claim up to 25% savings versus diesel and guarantee 99% uptime. The company offers monthly payment options to reduce customers' capital costs and uses best-in-class equipment with long-term warranties and local technical support. Daystar recently closed a $10 million investment and lined up $16 million in debt financing to support solar expansion across West Africa. It currently serves clients in Nigeria, Ghana and Tanzania and plans expansion into Kenya and Zambia.

Total raised

$78M

Funding rounds

6

Latest round

Debt Financing

Latest activity

Jul 2021