NEOSUN Energy Begins 1 MW Rooftop Solar Installation for Dayizenza Mall in South Africa

Neosun Energy has launched the installation of a 1-MW solar power station at Dayizenza Mall in Nelspruit, South Africa. The project, which began in October, involves a grid-tied solar PV system with a capacity of 1 MW designed to deliver substantial energy cost savings, cutting electricity expenses by more than 50-60% over the system’s estimated 40-year lifespan.

This investment is expected to provide cumulative savings of over R164 million, while significantly reducing the mall’s carbon footprint with an anticipated CO2 reduction of 25,807 tons.

According to Neosun Energy, the project demonstrates strong financial viability, bolstered by South Africa’s Section 12B tax incentive, achieving an internal rate of return (IRR) of 53% and an expected payback period of just 12 months.

The company is expected to complete the project in November and more than 140 solar panels have been installed so far.

“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. We strongly believe that together we can not only speak about the impactful changes, but we can literally make changes”, – added the CEO of Neosun Energy Ilya Likhov.

 Source: https://lnkd.in/dpS9hdxn