"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.
The company reports that the installation started in October, and more than 140 solar panels have been installed so far. The company is expected to complete the project in November.
"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 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.
"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.
