Daystar power secures US$20m loan from IFC to invest in hybrid renewable energy systems

WEST AFRICA – Daystar Power, a provider of hybrid solar power solutions to businesses, has announced the successful completion of a US$20 million loan from the International Finance Corporation (IFC). The loan will be used to invest in hybrid renewable energy systems by Daystar Power’s Nigerian subsidiary. The financing consists of a US$10 million subordinated loan from the Canada-IFC Renewable Energy Program for Africa and a US$10 million IFC local currency loan. Daystar is also collaborating with the IFC’s Energy2Equal program, which is supported by the Canadian government, to address…

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Solar company Daystar Power secures US$38m Series B investment led by IFU to grow its operation

NIGERIA – Daystar Power, a provider of hybrid solar power solutions to businesses in West Africa, has announced a Series B investment of US$38 million led by the Investment Fund for Developing Countries (IFU), the Danish development finance institution (DFI). With the fundraise, Daystar Power will grow its operations in its key markets of Nigeria and Ghana, while deepening its presence in other regional countries such as Côte d’Ivoire, Senegal and Togo. Daystar Power is on track to expand its installed capacity to over 100 megawatts, meeting demand from its…

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