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Nigerian solar startup Daystar Power raises $4m debt funding

Daystar Power, a Nigerian renewable energy firm, has closed $4 million debt financing from SunFunder.

Daystar Power will invest the new funds in producing up to 3MW of C&I projects for clients including top tier financial institutions and other small and medium-sized enterprises.

This will mitigate over 100,000 tons of CO2 emissions annually.

Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in at least a 20% reduction in energy costs and 50% reduction in diesel consumption for end users.

Rim Azirar, who led the transaction for SunFunder, highlighted the scalability in both the structure of the loan and Daystar’s business model.

Read more from source article: https://www.techawkng.com/2020/02/10/daystar-power-raises-4m-investment-from-sunfunder/

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