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Nigeria’s Starsight Energy plans east Africa solar power expansion

By David Whitehouse
Posted on Wednesday, 31 March 2021 19:11, updated on Thursday, 1 April 2021 12:49

A partial solar eclipse in Nairobi, Kenya, June 21, 2020. REUTERS/Baz Ratner

Nigerian solar power provider Starsight Energy plans to expand to Kenya, Uganda and Tanzania, Sola Lawson, managing director and co-head at African Infrastructure Investment Managers (AIIM), tells The Africa Report.

Starsight is in the process of finalising an agreement with a partner for the expansion which should be concluded by the end of April.  The company has “tremendous mid-term prospects,” Lawson says. “We’re just scratching the surface of the potential of distributed solar.”

Private-equity investor AIIM, which is part of Old Mutual Alternative Investments, has a stake of about 39% in Starsight. Helios Investment Partners has a majority holding in the company, which also has debt funding from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF), Norfund and Finnfund.