Verod and Persistent Invest USD10 Million in Daystar Power Group
Posted On: 21 Mar 2019 | Source(s): Verod Capital Management, Daystar Power Group
Daystar Power Group, a Mauritius-based hybrid solar power developer operating West africa, has raised USD10 million in equity from Anglophone West Africa-focused private equity firm Verod Capital Management and Persistent Energy Capital, an Africa-focused off-grid energy investment firm. The deal represents Verod’s final investment from its second fund. Daystar has also arranged an additional USD16 million in debt financing from undisclosed investors. The company intends to use the new funds to develop additional solar power projects serving commercial and industrial customers across West Africa.