- Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) recently opened a $9.2 million line of credit to enable Starsight Power Utility to expand its operations in Nigeria.
- Starsight deploys hybrid off-grid systems for industrial and commercial consumers across the continent.
The Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) recently opened a $9.2 million credit line for Starsight Power Utility, a hybrid off-grid energy company. This financing facility will span over ten years and will enable Starsight to provide clean energy services to industrial and commercial consumers in Nigeria. Starsight Power Utility’s portfolio currently includes commercial and industrial consumers, filling stations, banks, schools, hospitals, agricultural enterprises.
According to Starsight Power Utility’s CEO, Tony Carr, Starsight proprietary intelligent technology will optimise electricity consumption, and enable customers to significantly reduce electricity costs and increase profitability without incurring upfront expenses.
Starsight Power Utility operates a ‘Build Own Operate’ model where it installs and maintains the off-grid system after installation. Since its inception in 2015, Starsight has developed off-grids in more than 500 locations across Nigeria.
Earlier in the year, the company installed an off-grid system at a hospital in Ekiti State to help with covid-19 testing and improving overall healthcare delivery.