Solarafrica Energy and Starsight Energy, two prominent players in Africa’s renewable energy sector, have announced the successful completion of their business merger. This groundbreaking move has given birth to a unified pan-African clean energy platform, poised to revolutionize the renewable energy landscape on the continent. Backed by Helios Investment Partners and African Infrastructure Investment Managers, the merged group is set to offer a comprehensive mix of on- and off-site renewable energy solutions to commercial and industrial customers across Africa.
A Powerful Unified Platform
The merger has brought together Solarafrica Energy and Starsight Energy’s resources and capabilities, creating an expanded solutions portfolio that addresses the fragmented renewable energy supply in Sub-Saharan Africa. This unified platform now offers customers a wide range of fully serviced clean energy solutions, including solar energy, battery storage, wheeling, and energy management. With operations and maintenance taken care of on behalf of the customers, businesses can access cost-effective and sustainable energy solutions tailored to their specific needs.
Unleashing Green Energy Potential
Paul van Zijl, the Group CEO, emphasized that the merger would unlock more efficiencies across the group, enabling them to lead the charge towards a sustainable future by making power accessible and affordable. The merged group’s installed and contracted portfolio of 520 MW in solar power generation, 60 MWh of battery storage, and a pipeline exceeding 2 GW is a testament to their commitment to carbon reduction. To date, this impressive portfolio has resulted in offsetting over 360,000 tonnes of CO2, making a significant impact on environmental sustainability.
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Key Markets and Imminent Expansion
With a strategic focus on key markets in Ghana, Kenya, Namibia, Nigeria, and South Africa, the merged group aims to cater to the energy needs of businesses and industries in these core African economies. However, their vision extends beyond these markets, as they actively plan imminent expansion into Tanzania and Uganda. The move into these new territories aligns with their goal of developing distributed renewable energy frameworks in each region, alleviating pressure on national grids and fostering sustainable growth.
The Significance
The merger between Solarafrica and Starsight Energy offers valuable insights for entering into similar partnerships. The expanded solutions portfolio showcases how merging companies can combine their strengths to create a more comprehensive suite of offerings, providing added value to customers. Furthermore, retaining strong in-country representation and local management teams underscores the importance of understanding and addressing market-specific challenges.
A Leadership Team Built for Success
The merged group’s leadership structure demonstrates the strategic use of expertise and experience from both companies. Paul van Zijl, formerly the Group CFO of Starsight Energy, assumes the role of Group CEO, while Charl Alheit, who served as the Chief Investment Officer for SolarAfrica, becomes the Group CIO. Max Rieg, the former Commercial Director of Starsight Energy, takes on the position of Group Commercial Director. This optimized leadership will play a crucial role in driving the merged entity forward.
The Road Ahead
As the pan-African clean energy platform embarks on its transformative journey, the backing of Helios Investment Partners and African Infrastructure Investment Managers adds a crucial dimension. Beyond capital infusion, these experienced investment partners bring industry insights, networks, and guidance, which will be instrumental in navigating the dynamic energy landscape in Africa.
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The merger of Solarafrica Energy and Starsight Energy marks a remarkable milestone in the African renewable energy sector. The creation of a leading pan-African clean energy platform with an expanded solutions portfolio, in-country focus, and strategic leadership highlights the power of collaboration and vision in driving sustainable growth. As the merged group continues its expansion and penetration into new markets, Africa’s renewable energy landscape is set to witness a brighter and cleaner future.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard