Neosun Energy Secures Agreement for 1 MW Solar Facility at Dayizenza Mall in South Africa

Global EPC company Neosun Energy has finalized an agreement to install a 1 MW rooftop solar station at Dayizenza Mall in Nelspruit, South Africa. With a capacity of 998 kWp, this project marks a significant advancement in sustainability for the mall and underscores Neosun Energy’s growth in the South African market.

Jeanine Jackson, Head of Sales for Neosun South Africa, highlighted the environmental and financial advantages of the initiative, which is projected to lower electricity costs by 50-60% over its 40-year lifespan. “This solar power plant will not only deliver substantial savings but also facilitate the shift towards clean energy solutions,” Jackson stated.

The project is expected to yield an internal rate of return (IRR) of 53% and a payback period of only 12 months, aided by the Section 12B government tax incentive. Cumulative savings over the plant’s lifetime are anticipated to exceed R164 million, making it a financially attractive renewable energy investment.

In terms of environmental impact, the solar station is projected to reduce CO2 emissions by 25,807 tons, establishing Dayizenza Mall as a frontrunner in sustainability efforts within the Nelspruit region. Jackson also noted that this initiative serves as a benchmark for other South African businesses to explore the financial and ecological benefits of renewable energy.

Neosun Energy has commenced work on the project and has recently opened new branches in Cape Town and Johannesburg to better serve local customers. Given the energy challenges facing South Africa, including load shedding and increasing electricity costs, solar energy is seen as a viable solution for businesses. Neosun Energy CEO Ilya Likhov remarked, “Our entry into the South African market comes at a pivotal moment, and we are dedicated to assisting local enterprises in addressing energy access issues with cutting-edge solar solutions.”

Likhov emphasized that Neosun’s solar technologies will boost the profitability and efficiency of South African businesses while promoting sustainable energy practices.