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Daystar Power, a leading provider of hybrid solar power solutions to businesses in West Africa, today announced a Series B investment of $38 million. The round was led by the Investment Fund for Developing Countries (IFU), the Danish development finance institution (DFI). x IFU is joined by new investors STOA, a French impact infrastructure fund, Proparco, the French DFI, backed by a guarantee from the European Union under the African Renewable Energy Scale-Up facility (ARE Scale-Up) and Morgan Stanley Investment Management. Taking into account the previou...

Daystar Power raises $38mln to boost solar energy supply in West Africa Wednesday, 13 January 2021 16:20 (Ecofin Agency) - Daystar Power, which specializes in solar energy supply in West Africa, has raised $38 million in a Series B round to boost its activity. The operation was led by the Danish development bank (IFU) and saw the participation of three foreign investors: French STOA and Proparco, and American Morgan Stanley. Several factors motivated this investment, including "the customer base, technologies, expertise and skills of the Daystar Power team," said Thomas Hougaard, IF...