Energea, a renewable energy investment platform in the U.S., has bolstered its Solarize South Africa portfolio with the addition of three new projects. This expansion reflects Energea’s commitment to driving the global transition to clean energy, particularly in regions like South Africa, grappling with high carbon intensity and unreliable energy grids.
South Africa’s power sector, known for its high carbon emissions and unreliable grids, presents significant challenges. The inclusion of solar projects in the Solarize South Africa portfolio not only injects clean energy into a struggling grid but also offers an alternative to aging coal plants, contributing to environmental sustainability.
Backed by over 2,000 investors, the Solarize South Africa portfolio has achieved a commendable 10 percent Internal Rate of Return (IRR) since its inception in July 2021. These niche energy transition strategies, alongside other offerings, are accessible to U.S. investors through Energea’s platform and adhere to SEC regulations.
Among the new projects is the CPOA Constantia Place, featuring a 144 kW (DC) rooftop solar installation in Cape Town. This project will offset part of the energy consumption of the CPOA Constantia Place facility, significantly reducing carbon emissions over its 20-year assumed lifetime.
Laerskool Havinga, hosting a 100 kW (DC) rooftop solar installation with battery backup, ensures uninterrupted power supply for the school, even during daily grid shutdowns, a common occurrence during the country’s “load shedding” crisis.
Similarly, the project at Bosmansdam High School, comprising a 77.76 kW (DC) rooftop solar installation with battery backup, reinforces Energea’s commitment to supporting institutions in adopting sustainable energy solutions. Bosmansdam High School, with its legacy of excellence, stands to benefit from reduced energy expenses and increased reliability.
These projects underscore Energea’s dedication to fostering sustainable energy practices in South Africa and beyond. By leveraging solar energy and innovative technologies, Energea aims to address energy challenges while advancing the global clean energy agenda.
GreentechLead.com News Desk