Neosun Energy Secures Major Contract For 1 MW Rooftop Solar Installation In South Africa
Neosun Energy Secures Major Contract For 1 MW Rooftop Solar Installation In South Africa. Global EPC company Neosun Energy Signed a Deal for 1 MW Commercial Solar Station in South Africa. The company started the project that will be soon installed on the rooftop of Shopping Mall.
Neosun Energy has signed a deal with Dayizenza Mall in Nelspruit, South Africa. The company has announced the design and construction of a grid-tied solar PV plant with a total capacity of 998 kWp, marking a significant milestone in its commitment to sustainability and reducing its carbon footprint.
“The solar power plant is projected to deliver monthly electricity savings in excess of 50-60% over its lifetime, contributing to both environmental and financial benefits. The service life of the solar station is more than 40 years. The initiative underscores Dayizenza Mall’s dedication to reducing its environmental impact and supporting the transition to clean energy solutions in the commercial sector” – shared the Head of Sales NEOSUN South Africa, Jeanine Jackson.
Financially, the project demonstrates strong viability, with an internal rate of return (IRR) of 53% and a payback period of just 12 months, largely due to the Section 12B government tax incentive. The cumulative savings are estimated to exceed R164 million over the plant’s lifespan, making it a highly cost-effective renewable energy investment.
The project is expected to reduce 25,807 tons of CO2 emissions, further establishing the mall as a leader in promoting sustainable practices within the Nelspruit region.“This landmark project not only underscores the mall’s commitment to sustainability but also serves as a model for other South African businesses. It highlights the financial and environmental advantages of renewable energy solutions, contributing to a cleaner, more sustainable future”, – emphasized Jeanine Jackson.
Neosun Energy has recently opened new branches in CapeTown and Johannesburg to be closer to the local customers. For local businesses in South Africa, solar energy represents a significant cost-saving opportunity, being the cheapest form of energy generation. The payback period for solar projects is generally less than two years in most sunny regions, leading to pure profit by the third year. This makes solar energy a strategic move to increase profitability and attractiveness to investors and businesses.
“Neosun Energy has expanded to the South Africa market to support local enterprises. The entry comes at a critical time as businesses in the region face heightened energy access issues due to load shedding and soaring electricity and fossil fuel costs, along with the persistent challenge of numerous off-grid areas in Africa lacking energy access. Thousands of enterprises in South Africa are unable to fulfill business operations and are bearing financial losses due to the limited access to the grid”, – shared CEO of Neosun Energy, Ilya Likhov –
Neosun Energy’s entrance into the South African market brings a promising opportunity for local businesses to tackle the energy crisis effectively. The company’s advanced solar solutions will help South African businesses and local companies save on electricity costs, become more efficient, and enhance their profitability.
