Shell has bought Daystar Power, a hybrid solar power company in West Africa. The acquisition, which the government approved, will help Daystar Power grow its business in the area and across Africa.
With this purchase, Daystar hopes to increase its installed solar capacity to 400MW by 2025 and become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses.
Daystar Power will work as a wholly-owned subsidiary of Shell under its current name in Shell’s Renewables & Energy Solutions business. The company’s co-founders and management team will continue to grow its operations in key West African markets while expanding its presence to other countries.
Shell has been in business in Nigeria for more than 40 years and has served customers there. The company has over 46 gigawatts of potential renewable generation capacity in its portfolio. Of this, 2.2 gigawatts are already in use, 3 gigawatts are under construction or contract, and 40.9 gigawatts are in the company’s pipeline.
This includes many renewable energy projects, such as utility-scale solar, floating wind, and integrated wind-to-hydrogen projects. Shell announced its Powering Progress strategy in February 2021. As part of this plan, Shell promised to become an energy company with net-zero emissions by 2050.