Daystar Power, one of the main providers of hybrid solar power solutions for companies in West Africa.
This investment will allow the West African C&I solar power supplier, whose growth is the highest in the sector, to accelerate its regional expansion. This investment is Proparcos third commitment under the ARESUF facility supported by the European Union. In line with Proparco’s strategic objectives to improve access to energy while reducing greenhouse gas emissions, the capital increase will allow DSP to extend the supply of reliable energy with a competitive cost to the C&I sector throughout West Africa, especially in Nigeria.
This project is part of the 2X Challenge initiative. This multi-stakeholder initiative aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services, and increase their participation in the economy.
This initiative thus contributes to Sustainable Development Goal #5 (Gender Equality).
The expected impacts of the Daystar project are as follows:
- The hybrid solar power solutions installed by Daystar from now until 2025 should supply around 153 GWh of reliable and clean electricity per year to companies. This will also reduce their dependence on diesel or electricity from the grid as well as their energy costs.
- The project should avoid 127,000 tCO2e per year (replacement of highly polluting diesel generators), i.e. some 3.17 millions tCO2e over a 25-year period.
- The project should create or maintain some 180 direct jobs over the next 5 years.
The project should therefore contribute to SDG n° 7 (Clean energy), n° 8 (Decent work and economic growth), n° 9 (Infrastructure) and n° 13 (Climate change).
This project is part of the 2X Challenge initiative
This information is given at the time of signature, without prejudice to any developments in the operation/project