{"id":71668,"date":"2020-02-07T22:40:00","date_gmt":"2020-02-07T21:40:00","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=71668"},"modified":"2020-02-07T22:40:00","modified_gmt":"2020-02-07T21:40:00","slug":"sunfunder-makes-first-investment-in-nigeria-with-daystar-power","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/sunfunder-makes-first-investment-in-nigeria-with-daystar-power\/","title":{"rendered":"SunFunder makes first investment in Nigeria with Daystar Power"},"content":{"rendered":"
\n
SunFunder, a solar finance company providing debt capital to solar<\/div>\n
\n
enterprises in emerging markets, has announced its first disbursement in
\nNigeria, part of a facility of up to $4m with commercial and industrial
\n(C&I) solar developer, Daystar Power.<\/p>\n

Daystar Power specialises in providing solar power and energy efficiency
\nsolutions for businesses in the commercial, industrial, and agricultural
\nsectors that result in significant reduction of power costs, diesel
\nconsumption and pollution. SunFunder\u2019s investment in up to 3MWp of C&I
\nprojects for clients including top tier financial institutions and other
\nsmall and medium-sized enterprises will mitigate 102,410 tons of CO2
\nemissions annually.<\/p>\n

\u201cWe are delighted to support Daystar\u2019s growth with a project
\nfinance-like structure that can support the company\u2019s strategy for rapid
\nbuildout in Nigeria, through their highly scalable business model,\u201d said
\nRim Azirar, Investment Officer at SunFunder. \u201cThe Daystar team offers
\nits clients power solutions tailored to their operations and is
\nimpressively scaling the company\u2019s reach by standardising deployment,
\nboth important factors in the emerging and often fragmented C&I solar
\nsector in Africa.\u201d<\/p>\n

The company\u2019s success combines a high value offering with cost
\nminimisation through optimised solutions design combined with a
\nprofessional maintenance program. Daystar\u2019s mission is to provide an
\nAfrican sustainable energy solution that results in a minimum 20 %
\nreduction in energy costs and 50% reduction in diesel consumption for
\nend users.<\/p>\n

Christian Wessels, co-founder and executive of Daystar Power, comments:
\n\u201cWe are happy to partner with SunFunder in our mission to bring clean,
\ncontinuous and affordable power to West African businesses in support of
\ntheir growth and environmental goals. The support of SunFunder enables
\nthe beginning of a new phase of accelerated growth for our company.\u201d<\/p>\n

According to a recent study by Bloomberg New Energy Finance, Nigeria has
\nthe largest potential for C&I solar in Africa because of the scale of
\nthe opportunity for diesel replacement. Daystar is a pioneer in the
\nmarket, offering end-users increased reliability as well as lower energy
\ncosts through solar and storage systems.<\/p>\n

SunFunder and Daystar are also well aligned on gender parity. Both
\ncompanies boast leadership teams comprising almost 50% women.
\nFurthermore, SunFunder was co-founded by a woman and the chief executive
\nof Daystar in Ghana is the youngest female Nigerian CEO in West Africa\u2019s
\nrenewable energy sector. Daystar actively hires female engineers and
\nmanagers and seeks to create an environment where women can drive
\ndevelopment in Africa.<\/p>\n

– END –<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

SunFunder, a solar finance company providing debt capital to solar enterprises in emerging markets, has announced its first disbursement in Nigeria, part of a facility of up to $4m with…<\/p>\n","protected":false},"author":1,"featured_media":71669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-71668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nSunFunder makes first investment in Nigeria with Daystar Power - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/sunfunder-makes-first-investment-in-nigeria-with-daystar-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SunFunder makes first investment in Nigeria with Daystar Power - 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