Trinity Closes Daystar FundraisingPublished:
Trinity is delighted to have advised a consortium of investors in the US$38m Series B fundraising for Daystar Power, a Nigerian solar energy provider.
Trinity advised the Danish SDG Investment Fund (managed by IFU), the French development agency Proparco, the French impact infrastructure investor STOA and Climate Impact Solutions Fund LP (managed by Morgan Stanley Investment Managers) on the investment.
Daystar Power plans to replace diesel generators and unreliable grid access with clean reliable power, and plans on accelerating its growth in key markets in West Africa in the provision of energy efficient solutions for commercial and industrial customers. The deal highlights Trinity’s increased presence on private equity and corporate transactions across the African continent and the depth of our expertise in C&I and other off-grid solutions.
The Trinity team comprised Senior Partner Paul Biggs, Head of Equity Hugh Naylor, Partner Conrad Marais and Senior Associates Adekanmi Lawson and Jo Sykes.