TEMPLARS has advised Starsight Energy Group, one of Africa’s leading commercial & industrial solar power and energy efficiency group, on its expansion into East Africa through the acquisition of a 50% stake in the East African operations of Premier Solar Group – which has a focus on Sub-Saharan Africa and South Asia.
The transaction led to the creation of a new entity, Starsight Premier Energy Group (held 50/50 by Starsight Energy Group and the Premier Solar Group) which now holds a 100% equity stake in Premier Solar Solutions, a renowned player in the Kenyan commercial & industrial solar sector. This transaction positions the new entity and its operating subsidiaries in East Africa to play an important role in the direct provision of more reliable electricity solutions for economic growth across the region.
The TEMPLARS team which advised on the documentation, negotiation and structuring of the transaction was led by Finance, Energy and Projects partner, Desmond Ogba with support from Senior Associate, Oghomwen Akpaibor and Associates, Osarugue Izekor, Ojuolape Kalesanwo, Ijeamaka Nzekwe and Michelle Eigbobo. The Templars team was lead transaction legal counsel and coordinated the provision of local law advice in East Africa.
This transaction continues Starsight’s drive to expanding clean energy projects into different African markets. TEMPLARS had last year advised Starsight Energy Group on its entry into Ghana.
The closing of this and other similar cross-border transactions underscores the commitment of Templars towards building an Africa-wide practice that will move with, and provide top-end legal support to, clients seeking to expand into, or invest, in other African markets beyond Nigeria.