Olaniwun Ajayi LP (OALP or the Firm) is pleased to have advised the British International Investment plc (BII) as Nigerian counsel on its grant of a USD15,000,000 (Fifteen Million United States Dollars) term loan to Starsight Energy Africa Holding Limited (Starsight), a leading West African commercial & industrial (C&I) energy provider, to support investments in Starsight’s subsidiaries in Nigeria and Ghana.
The transaction will support Starsight’s expansion by funding growth capital expenditure and replacement capital expenditure in respect of on-site and off-site energy installations such as rooftop and ground-mounted solar photovoltaic solutions for C&I customers, complementary battery storage systems, air conditioning units, power generation solutions, and other ancillary equipment required for the operation of integrated energy systems.
This transaction reinforces BII’s continued commitment to scaling sustainable and reliable energy solutions across Africa, particularly within the C&I segment. It further highlights the increasing role of targeted capital deployment in addressing energy access and efficiency needs in the region, with a particular focus on Nigeria, where it seeks to mitigate the challenges arising from inadequate electricity supply due to the instability of the national grid.
OALP is honoured to have advised BII on this transaction, which further underscores the Firm’s dedication to promoting investments that drive sustainable growth, energy access, and economic development across Africa. We remain committed to supporting transformative projects that mobilise capital at scale to advance Nigeria’s transition to clean energy.
What the facility funds
The USD 15 million term loan supports Starsight’s expansion across Nigeria and Ghana. It funds both growth capital expenditure and replacement capital expenditure.
That spending covers on-site and off-site energy installations. Rooftop and ground-mounted solar photovoltaic systems sit at the centre. Complementary battery storage, air conditioning units, power generation solutions and other ancillary equipment complete the integrated energy systems.
Why C&I energy matters in West Africa
Commercial and industrial customers across the region face unreliable grid supply. Consequently, many turn to on-site generation to keep operations running.
Starsight is a leading West African provider in that market. Financing of this kind allows such providers to scale, and it brings more reliable power to the businesses they serve.
For development finance institutions, the appeal is twofold. The investment supports commercial activity, and it advances the shift towards cleaner energy sources at the same time.
Olaniwun Ajayi’s role
Olaniwun Ajayi LP advised British International Investment plc as Nigerian counsel on the transaction.
The firm regularly advises lenders and sponsors on energy financings of this type across the region.