Neosun Launches Solar Project in South Africa

October 31, 2024 • Estimated Reading Time: 2 minutes

Key Figures & Findings: Neosun Energy, an international solar EPC (Engineering, Procurement, and Construction) company that specializes in providing commercial solar photovoltaic (PV) and energy storage solutions, is implementing a 1 MW solar power system at Dayizenza Mall in Nelspruit, South Africa. With more than 140 solar panels already installed, this commercial project underscores Neosun's commitment to green energy for local businesses, driven by their recent branch openings in Cape Town and Johannesburg to better serve South Africa’s energy market. According to Jeanine Jackson, Head of Sales at Neosun South Africa, the installation will provide financial and environmental benefits, reducing energy expenses by 50-60% monthly.

Statistics & Insights: Backed by the South African government’s Section 12B tax incentive, the project offers a rapid payback period of 12 months and an internal rate of return (IRR) of 53%, delivering projected savings exceeding $8.6 million over its lifespan. It will also prevent approximately 25,807 tons of CO₂ emissions.

Future Implications: The success of this project could drive similar initiatives in South Africa’s commercial sector, encouraging more businesses to consider renewable energy for long-term sustainability. If effective, Neosun’s projects could help alleviate energy shortages while promoting a cleaner energy mix.