Financing solar power systems in West Africa

9th May 2019
Posted By : Alex Lynn
Financing solar power systems in West Africa

The West African solar energy company, Daystar Power, has partnered with Trine a Swedish investment platform to finance solar power systems in West Africa. The partnership opens up investments in Daystar Power’s solar power installations, previously limited to large-scale investors, to the wider public.

Daystar Power and Trine initiated their partnership by opening a round of debt investments for a total of €500,000 for Daystar Power’s latest captive power installations for commercial customers in Togo and Senegal. This financing round allows individuals and companies to invest in Daystar Power’s projects with a minimum investment amount of €25. 

Traditionally, investments in solar power plants in Africa have been reserved for large institutional investors. Trine and Daystar Power are changing this, by enabling individuals and companies to participate in financing the expansion of solar power. The current financing round will help Daystar Power expand its footprint of installations from Ghana and Nigeria to Togo and Senegal.

Christian Wessels, Executive Chairman of Daystar Power, said: "We are excited about our partnership with Trine, as it will allow a new class of investors to invest in our solar power plants in West Africa. In Trine we have found a partner who is as passionate about impact investing and solar power as we are.”

Christoffer Falsen, CFO and Co-Founder of Trine, added: "We are happy that with Daystar Power, we have found our first partner company which is active in the commercial and industrial space of solar power. We are confident that through our loans, Daystar Power will be able to make significant contributions to protecting the environment and fostering local job creation.”

You must be logged in to comment

Write a comment

No comments

Sign up to view our publications

Sign up

Sign up to view our downloads

Sign up

SPS IPC Drives 2019
26th November 2019
Germany Nuremberg Messe
Vietnam International Defense & Security Exhibition 2020
4th March 2020
Vietnam National Convention Center, Hanoi