Off-grid power provider Daybreak Power Solutions to receive US$20m from IFC

NIGERIA – The International Finance Corporation (IFC) has announced that it is considering providing US$20 million to Nigerian off-grid power service provider, Daybreak Power Solutions, a subsidiary of Daystar Power Group. The investment is still undergoing regulatory approval by the IFC, according to a statement from the organization. When approved, the funds will be used as part of a US$40 million Phase 1 capacity expansion project. The US$20 million investment will be made up of a US$10 million loan given in local currency from IFC’s account as well as another…

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