Nigeria’s Starsight, South Africa’s SolarAfrica merge to scale up African renewables

By David Whitehouse
Posted on Friday, 23 September 2022 06:00

A worker cleans solar cells on a rooftop of a hotel in the resort town of Sharm el-Sheikh REUTERS/Mohamed Abd El Ghany

Nigeria’s Starsight Energy and South African-based SolarAfrica are merging to target commercial and industrial customers across the continent.

The combined group will have a portfolio of 220MW of operated and contracted generation capacity, with 40MWh of battery storage, and a project pipeline exceeding 1GW. Decisions on the name and leadership of the merged company are on hold pending antitrust regulatory approvals, which are expected to take between three and six months.

Starsight shareholder African Infrastructure Investment Managers (AIIM), which is part of Old Mutual Alternative Investments, will help fund the expansion of the South African subsidiary of the new entity. The goal of the merger is to build the “pan-African renewable partner of choice,” AIIM investment director Dami Agbaje told a briefing.