HomeIndustry SectorsBusiness and marketsNigeria: Carbon credit certification for clean energy company

Nigeria: Carbon credit certification for clean energy company

Starsight Energy has become the first renewable energy company in Nigeria to secure carbon credit accreditation.

The carbon credits have been certified by the Verra Verified Carbon Standards (VCS) programme – a widely used voluntary greenhouse gas certification programme. Starsight was advised by African advisory firm Aera.

Backed by Africa-focused private investment firm Helios Investment Partners, Starsight Energy works predominantly in the Commercial & Industrial solar power sector. 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.

Have you read?
C&I solar provider secures local currency debt facility

This means Starsight will now generate carbon credits from CO2 emission reductions delivered by the combination of solar generation and energy efficiency initiatives in Nigeria. Selling carbon credits will provide an additional revenue stream to the company.

Tony Carr, Starsight Energy CEO: “Starsight’s solutions, now with over 52MW 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.” 

Have you read?
C&I solar market prospects in West Africa looking bright

Starsight uses end-to-end solar solutions and replaces inefficient air conditioners in an attempt to reduce their customers’ GHG emissions. They have found they can typically reduce diesel use by up to 75%, which will make an impact in Nigeria,  the world’s largest consumer of diesel for back-up power generation.

Ogbemi Ofuya, Partner at Helios Investment Partners, added that their investment into Starsight is consistent with their 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.” 

Theresa Smith
Theresa Smith is a Content Specialist for ESI Africa.

LATEST FEATURES