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Company information

Magan Star

Basic information
Country of originSomalia
IndustryEnergy
Date modified31.1.2017 09:05:52
Date published24.6.2014 09:28:36
Project details
Project type:Production, marketing or other activity involving transfer of know-how or technology, Joint venture
Project abstract:Magan Star, a Somalian company specialised in production of renewable energy is searching for Finnish partners for developing wind and solar energy units in Somalia.
Project description:

Magan Star, established in 2012, is based in Laanta Hawada, Bosaaso, and currently employs approx. 80 persons. Corporate management and ownership is partly Finnish.

The company’s main products include wind farms and solar energy products. The company is also exploring the potential of geothermal energy sources in the North East of Somalia.

Magan Star is doing co-operation with different international firms and investors and Somalian national government organization to provide wind and solar energy products and services to businesses and households in Somaliland and Puntland and improving infrastructure and access to electricity.

The company is currently looking for a partner to establish local manufacturing and assembly units for wind and/or solar energy products and solutions and develop the local energy grid/transmission infrastructure and in doing so replacing energy sources which emit CO2  gases.

Magan Star has a long-term perspective to the energy resources and consumption in Somalia. Somalia has 700 kilometres of coastline which makes it one of the world’s strongest wind regimes. According to the company, within the next 20 years, it is conceivable that over 100 megawatts of wind power generation is feasible in Somalia. This could cover 100 percent of urban electrification while generating revenues of more than $100 million per year.

Furthermore, the solar energy resource in Somalia is almost uniform with only minor seasonal variations. Somalia has approximately 3000 hours of clear and consistently reliable sunshine annually, with a minimum of 8 to 8.5 hours of sunshine hours per day, with specific solar irradiance at ground level of 1kW per m2. A modest investment of about $500 for solar panels can provide enough solar systems to sustain basic home illumination needs for years.

If you are interested in this company, please contact Finnpartnership matchmaking[at]finnpartnership.fi.

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Expected input of the partner:The partner would provide capital investment and technical expertise in renewable energy production to further the work of Magan Star and support the operations and plans in Somalia.
Company information
Company name:Magan Star
Organisation type:Company, enterprise or trading name
Contact details
Address:Lanta Hawada
Postal code:-
City:Bossaso
State:Puntland, Somalia
Phone number:+971 551 447510 (UAE) / +252907710754 (Somalia)
Fax number:-
Web page:http://www.maganstar.com
Company email:ahmed.mohamed@maganstar.com
Company size
Number of employees:50-249
Annual turnover, €:0 - 0,5 million
Annual balance sheet total:0 - 0,5 million
Certifications/quality standards:-
Already engaged in international co-operation:No
Percentage of transnational activities:-
Contact person
Title (Mrs, Mr, Ms):Mr
First name:Ahmed
Last name:Mohammed
Title (operational):Investment Director
Phone number:+971 551 447510 (UAE) / +252907710754 (Somalia)
Email:ahmed.mohamed@maganstar.com
Reference
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