New York-based venture capital firm Persistent Energy Capital LLC, and Nigeria’s Verod Capital Management have invested $10 million in Daystar Power, an off-grid solar energy firm focused on West Africa.
The Mauritius-based solar company builds off-grid solar farms with batteries for energy storage, offering power solutions to commercial and industrial customers in Nigeria.
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Daystar Power will use the $10 million to expand its offering in West Africa, with a focus on Ghana, according to CNBCAfrica.
In addition to the $10 million, the company has lined up $16 million in debt financing to accelerate its expansion in in the region.
Daystar Power was founded in Lagos in Click here to read entire article