Helios-backed Starsight becomes first Nigerian energy provider to be carbon credit certified

01 Nov 2021

Starsight Energy has become the first renewable energy company in Nigeria to secure carbon credit accreditation. Backed by Helios Investment Partners, the largest Africa-focused private investment firm, Starsight is a leading African Commercial & Industrial (“C&I”) solar power provider. It has earned certification by switching its customers’ power and cooling from predominantly diesel-based electricity to a combination of solar, battery and diesel hybrid systems.

The carbon credits have been certified by the Verra Verified Carbon Standard (VCS) program; the world’s most widely used voluntary Green House Gas (GHG) certification program. Starsight was advised by Aera, the leading carbon advisory firm in Africa, with additional support from experts across the Helios network.

With this certification, Starsight has become the first renewable energy company to generate carbon credits from CO2 emission reductions delivered by the combination of solar generation, and energy efficiency initiatives in Nigeria. The ability to sell carbon credits will provide additional revenue streams for Starsight.

Starsight delivers comprehensive, end-to-end solar solutions and replaces inefficient air conditioners for customers to achieve net GHG emissions reductions. Diesel use is typically reduced by up to 75% which has a significant positive impact in Nigeria, the largest consumer of diesel for back-up power generation globally. In addition to reducing diesel consumption, Starsight’s energy solutions help to lower costs, improve productivity, and promote better health outcomes, thus concretely contributing to several of the 2030 United Nations Sustainable Development Goals (UN SDGs), in particular, SDG7.2 and SDG7.b.

Tony Carr, Starsight Energy CEO, commented: 

“This achievement cements Starsight’s position as a market leader in the Nigerian renewable energy sector and a leader in sustainability. Starsight’s solutions, now with over 52 MW of solar across all markets, are helping drive the African Commercial & Industrial sector toward a more sustainable future. This certification amplifies our impact on carbon reduction in Nigeria and moves the country closer to meeting its own carbon reduction goals.” 

Ogbemi Ofuya, Partner at Helios Investment Partners, added: 

“The accreditation underscores Starsight’s leadership as a pioneering provider of distributed power, storage and cooling solutions in Africa. Helios’ investment in Starsight is consistent with our focus on sectors that underpin the modern economy such as clean energy. From inception, we have helped the company build scale and diversify its client base. The recent accreditation is another important milestone for the company as it continues to grow, delivering significant cost savings to its customers with a positive impact on the environment and local communities.” 

In partnership with the UN Sustainable Energy for All SDG7 Pavilion at COP26, Helios will be co-hosting a workshop discussing the topic of financing and scaling climate aligned energy infrastructure and productivity solutions in Africa to increase energy access and lower the cost of power through clean energy solutions.

For further information please contact: 

Helios Investment Partners 
heliosmedia@teneo.com 
Haya Herbert-Burns / Isobel Cullinan 
+44 (0)7342 031 051 / +44 (0)7584 103654 

Starsight Energy 
Tony Carr (CEO) 
(c/o Ejiro Sam-Umurhurhu) 
esamumurhurhu@starsightenergy.com 

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