Solar energy company Daystar Power is cooperating with Swedish investment platform Trine to finance photovoltaic projects in West Africa.
The partnership opens up investments in Daystar Power’s solar power installations, previously limited to large-scale investors, to the wider public.
Daystar Power and Trine initiated the partnership by opening a round of debt investments for a total of €500,000 for Daystar Power’s latest captive power installations for commercial customers in Togo and Senegal.
The financing round allows individuals and companies to invest in Daystar Power’s projects with a minimum investment amount of €25.
Traditionally, investments in solar power plants in Africa have been reserved for large institutional investors.
Trine and Daystar Power are hoping to attract individuals and companies to participate in financing the expansion of solar power.
The current financing round will help Daystar Power expand its footprint of installations from Ghana and Nigeria to Togo and Senegal.
Trine chief financial officer and co-founder Christoffer Falsen said: “We are happy that with Daystar Power, we have found our first partner company which is active in the commercial and industrial space of solar power.
“We are confident that through our loans, Daystar Power will be able to make significant contributions to protecting the environment and fostering local job creation.”