General
Daystar Power Installs 100th Solar Energy System in Nigeria
The 100th solar power system has been installed in Nigeria by the West African solar energy company, Daystar Power, since its establishment in 2017.
Daystar Power works with the region’s leading banks including Ecobank, Wema Bank, Unity Bank and Access Bank.
Besides banking and manufacturing, clients in the agricultural as well as education and health sector have also indicated strong interest in converting to renewable sources of energy, adding to Daystar Power’s client base. In addition to Nigeria, systems have also been installed in Ghana, where Daystar Power opened a subsidiary in April this year.
It was learned that the firm’s 100th solar power system was installed in Nigeria with the installation at a branch of Unity Bank in Bauchi.
This corresponds to a growth of 733 percent in the number of installed systems compared to the previous year, and a twenty-fold increase in the total installed power capacity from 291 kW in September 2018 to 5.6 MW in September 2019.
By shifting the electricity supply from diesel generators to environment-friendly solar hybrid solutions, Daystar Power has been able to reduce C02 emission by more than 360 metric tonnes to date.
Overall, Daystar Power’s innovative power solutions consistently save its customers 20-30 percent of power costs while simultaneously reducing noise and air pollution.
Founder and Executive at Daystar Power, Mr Christian Wessels, while commenting on the achievement, stated that, “With our full-service offerings, we cover not only installing the photovoltaic systems, but also providing maintenance in the long-term to ensure long-term operations – a rapidly growing demand of businesses and institutions in West Africa. I therefore assume that we can double the amount of installed systems to 200 by the end of this year.”
Also speaking, the Divisional Head of Resources at Unity bank, Mr Hilary Ajuebon, said, “Sustainability and environmental protection are fundamental principles to run all our business activities at Unity bank.
“The bank has already received various awards for supporting multiple initiatives that encourage ecological sustainability aimed at reducing the impact of climate change.
“We are therefore particularly delighted to have Daystar Power as a close partner helping us to convert our power supply of all our branches to solar energy in the long run.”
Daystar Power is a pan-African electricity company specializing in the generation of solar energy, with a focus on medium and small-scale solar systems (20kWp to 5 MWp). The plants are either sold or made available to customers in a service fee model.
The user benefits from cost savings against payment of a monthly fee, ensures a stable power supply, emission-free energy production and efficient energy management. Unlike many other international solar companies, Daystar Power has established local technical units that provide a high level of service.
Sunray Ventures is an African Venture Builder with locations in Lagos, Frankfurt and Dubai. Sunray Ventures focuses on building and scaling high-growth companies which generate profit, whilst creating environmental and socio-economic impact in their respective industries. Sunray Ventures and its owners Christian Wessels and Jasper Graf von Hardenberg founded Daystar Power in 2017.
By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied issuing a directive that gas supply to power generating companies (GenCos) be halted.
In a statement on Wednesday, the authority also denied instructing wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.
The NMDPRA described reports stating that it has directed the stoppage of gas supply to GenCos over N2 trillion debt as “false and completely unfounded”.
“It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry,” the NMDPRA said.
“The purpose of the engagement was to sensitise stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.
“It was a follow-up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.
“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025.”
Recall that Nigeria’s national grid experienced another collapse on Wednesday, the 11th time in 2024 as Gencos couldn’t generate enough power, compounding issues facing the Nigerian power sector.
This was the first time in over a month as the last time the nation witnessed a nationwide shutdown in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
By Aduragbemi Omiyale
Nigeria is currently experience a cut in power supply after the national grid collapsed for the 11th time in 2024.
This is the first time in over a month as the last time the nation witnessed a nationwide shut down in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
However, just when Nigerians were thinking they will not witnessed another national grid collapse in the year, it issue reared its ugly head again.
On Wednesday afternoon, most of the energy distribution companies suffered power outage, prompting them to inform their customers of the situation.
One of the DisCos, Ikeja Electric Plc, in a message to electricity consumers under its franchise area, said, “Please be informed that we experienced a system outage today, December 11, 2024, at about 13:32 hours affecting supply within our network.
“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us.”
Recall that on Tuesday, in a report, Google listed national grid as one of the top trending searches by Nigerians this year.
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