Royal Dutch Shell is set to purchase African solar provider, Daystar Power, as it expands its global renewables footprint and seek to work towards its carbon emission reduction policy.
“As we do this, we’re helping to address a critical energy gap for many who currently rely on diesel generators for backup power,” Shell’s Vice President for Renewable Generation, Thomas Brostrøm, said in a statement. It also plans to expand to eastern and southern Africa, a goal that Daystar Chief Executive, Jasper Graf von Hardenberg, said would be easier to reach with Shell.
Shell’s renewables and energy solutions division accounted for 6 per cent of company earnings in the second quarter, but new Chief Executive Wael Sawan is accelerating the drive for cleaner power, THISDAY reported on Tuesday. “As part of Shell, we will be able to execute our mission even faster,” he said, declining to disclose how much Shell is paying to acquire all of the company’s shares.
Founded in 2017 by the African venture builder Sunray Ventures, Daystar is taking advantage of inadequate electricity supply and high diesel costs to offer cheaper renewable solutions on the continent.
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