July 4, 2022

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Starsight Power is Africa’s quickest rising renewable power firm

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Starsight Power, a number one African industrial & industrial solar energy provider with a big presence in Ghana, has been ranked the quickest rising photo voltaic and renewable power firm in Africa by the Monetary Occasions (FT). 

Based on the FT, in its inaugural rating of Africa’s fastest-growing corporations in 2022, Starsight is the sixth quickest rising firm in Africa and the primary power and renewable power on the checklist. The rankings present that Starsight made large progress since its inception in 2015. The corporate’s revenues in 2020 stood at US$8.886million as in comparison with its revenues in 2017 which was at US$0.832million. 

At the moment, its absolute progress is 1154.403 p.c and a compound annual progress price of 132.351 p.c. Employees power of Starsight stood at 42 in 2017 however elevated to 108 in 2020, therefore making it to the quickest rising firm rankings by FT. 

With greater than 51MW of solar energy put in in West Africa as on the finish of 2021, the pan-African renewable power firm operates in three areas in Africa: West, East and South Africa with a transparent plan to be in different areas.  

Managing Director for Starsight Power Ghana, Emmanuel Ayifa Baah in an interview with the B&FT described the feat as humbling.

“It’s humbling however on the identical time it’s a recognition of the arduous work the staff has put in place over the interval. It’s simply pure that you just get rewarded while you do clear up an issue. It’s humbling to know that what you’re doing to assist corporations Go Inexperienced whiles saving them on electrical energy price & carbon emissions has been recognised on a world scale. 

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When you might have a enterprise working the earlier yr solely in Nigeria and only a yr plus down the road, you might have operations in Ghana, Kenya, Rwanda, Tanzania, after which  into South Africa, clearly that could be a main leap from one location to all of those places,” Mr. Ayifa Baah stated.  

Delving deeper into the corporate’s operations in Ghana, Mr. Ayifa Baah defined that there’s some 10MW of solar energy beneath deployment for industrial and industrial establishments with over 50percent put in. “The majority of our installations are in Accra however we’ve got installations in Kumasi, and a few components of the Japanese Area,” he stated.

Mr. Ayifa Baah, putting an optimistic tone, stated by the top of 2022, Starsight Power Ghana is searching for to have greater than 10MW put in for Industrial & Industrial shoppers. 

With the latest request for increment in electrical energy tariffs on account of  a basic improve in technology price of utility corporations, Mr. Baah urged customers, particularly industrial and industrial customers of energy, to have a look at photo voltaic as a extra sustainable possibility. “Whenever you go photo voltaic, you get monetary savings and defend the surroundings on the identical time,” he stated, including that at Starsight, their lease-to-own package deal result in customers saving not less than 15 to 45 p.c of their month-to-month electrical energy payments.

“We run a lease-to-own mannequin. We construct the photo voltaic plant at our price, we keep it at our price, you simply pay for utilizing the plant and when you are paying, you’re buying it. Our contracts begin from 5 years and if you would like a contract for over 10 years, we are able to, we’re very versatile with our choices. 

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You don’t incur any extra price; you’re nonetheless paying your month-to-month utility at a decreased quantity and but get to personal the plant inside quite a lot of years. Our goal begins from 15 p.c discount in your tariff all the best way to 45 p.c per kilowatts hour financial savings on electrical energy price,” Mr. Ayifa Baah added. 

Based in 2015, Starsight is the main African Industrial & Industrial (C&I) energy-as-aservice supplier. It has deployed roughly 63 MW of technology property and 25 MWh of storage at over 500 websites in all six African nations. The Firm’s staff of extremely skilled professionals supplies energy options to a various clientele, together with banks, gasoline stations, colleges, and enormous industrial agricultural corporations. 

Starsight’s proprietary sensible know-how optimizes power consumption enabling prospects to considerably scale back power prices and increase profitability with out incurring any upfront expense. Starsight delivers an end-to-end service, beginning with assessing a consumer’s power must the set up and upkeep of a renewable power answer. That is then adopted by ongoing technical assist. 

Starsight’s long-term relationships with its blue-chip shoppers mirror the standard of its in-house engineering, procurement, and development providers, together with the reliability of its operations, upkeep, and customer support. Collectively these present prospects with the peace of thoughts that every one their power-related points are in reliable palms. Starsight has persistently maintained the best ESG credentials and continues to scale back its prospects’ carbon footprint and dangerous diesel emissions.