Delphos International acted as the sole financial advisor to Starsight Power Utility Limited (“Starsight”), a leading energy services provider based in Lagos, in obtaining $10 million in long-term senior debt financing from Finnfund and Norfund. The loan will be used to fund the deployment of several hundred branch sites in Nigeria over the following 12 months. Starsight’s clients include major national and international commercial banks. The transaction achieved financial close in June 2019.
Starsight offers solar-battery-diesel hybrid generation and efficient cooling and lighting solutions to commercial and industrial clients throughout the country. The company has a large active pipeline in Nigeria and expects to expand soon to neighboring countries. Starsight is backed by Helios Investment Partners and the African Infrastructure Investment Managers, the largest Africa-focused, private equity and infrastructure investment firms.