From Bboxx to Starsight and Daystar, renewable energy startups in Africa are taking names and cashing cheques—literally.
On the 6th of September, Bboxx announced its acquisition of PEG Africa, expanding its operations to Senegal, Ivory Coast, Mali and Ghana. In the same month, Starsight Energy merged with South Africa's Solar Africa to attain its new Pan-African status. Last but certainly not least, Shell acquired Daystar, also in September. There was definitely something in the September air the rest of us missed.
Key takeaways:
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Startups need to grow fast, and African renewable energy startups are no exception.
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However, their operations are capital intensive, meaning renewable energy startups need access to larger funding volumes to grow as fast as other startups.
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Mergers and acquisitions allow renewable energy startups to grow exponentially across markets while providing exits for founders and investors.
But, renewable energy startups, like other startups in other sub-sectors, need to
