Good news for Starsight Energy. The solar photovoltaic energy provider has entered into a long-term partnership with Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF). The Nigeria-based investment fund is refinancing Starsight’s debt over 10 years to the tune of 8 billion naira ($20 million).
The Lagos-based company has taken out loans from the Norwegian Government Investment Fund for Developing Countries (Norfund) and the Finnish Fund for Industrial Cooperation (Finnfund). Starsight has secured two lines worth a combined $20 million in 2019 and 2021. Since 2015, the company, which provides solar power to commercial and industrial (C&I) customers, has installed its small-scale plants at more than 500 sites, with 36 MW of generation capacity and 28 MWh of electricity storage capacity.
Refinancing in local currency
NIDF refinanced Starsight’s debt in the local currency,…
NIGERIA: NIDF buys the debt of solar energy provider Starsight
