Starsight
Africa
Region
55.6
Investment (MNOK)
Exit
Status
Starsight offers power and cooling solutions to commercial and industrial clients throughout Nigeria as well as Ghana. Norfund, together with Finnfund, has provided a loan to finance their installations at multiple branches of leading banks in Nigeria as well as solar installations with commercial and industrial clients in Ghana. In December 2020, Norfund made an expansion financing which doubled our initial exposure to the company, from USD 5m to a total of USD 10m.
Key information
- Sector:
- Renewable Energy
- Investment (MNOK):
- 55.6
- Year:
- 2019
- Region:
- Africa
- Country:
- Regional
- Domicile:
- Nigeria
- Instrument:
- Loans
- Status:
- Exit
- Mandate:
- Development
Additionality for Starsight
This investment is particularly additional on the following ambitions:
- Investing in the most capital constrained markets
- Investing in the riskiest markets
- Investing in the most difficult business environments
- Contributing to starting new business activity
- Improving social and environmental standards
