The SOVENTIX Group, one of the leading international project developers in the solar industry, has successfully completed another project in South Africa, which was funded by crowdfunding via the online portal Sun Exchange. The financing target of 75,000 euros for the 60 kWp plant in the KNYSNA elephant park was reached within only a few weeks.
With the project, SOVENTIX successfully continues its successful initiative for the expansion of solar energy in Africa through crowdfunding. Only recently, a partnership was signed with Ecoligo to promote the financing of solar plants in emerging and developing countries.
"In South Africa we are experiencing high demand for solar energy and our services. However, the lack of suitable, long-term financing options still limits the realization of solar projects with local end customers.
With the involvement of crowdfunding, we are now not able to only offer technical solutions for solar systems, but also make it possible to finance such a system," says Jean-Paul de Villiers, Managing Director of SOVENTIX South Africa.
Green energy for the KNYSNA elephant park
The cooperation project with the KNYSNA elephant park is already SOVENTIX's third crowdfunding project in South Africa. Previously, the company had built solar power systems on the rooftops of a commercial building in Rustenburg, Johannesburg and an animal care facility in Yellowwood Park, Durban.
As in the past, SOVENTIX once again provided the complete planning, development and completion of the solar plant.
The crowdfunding for the 13,248 solar cells was carried out via the online portal theSunExchange.com. The plant with a rated output of 60 kWp now supplies the KNYSNA elephant park with environmentally friendly solar power.
As a result, KNYSNA achieves energy cost saving of around ten percent. The solar park is also attractive to investors: The return over the 20-year period is expected to be around ten percent.
Attractive prospects for SOVENTIX in southern Africa
Solar projects are becoming increasingly important in South Africa's energy mix. The unreliable power grid and soaring energy costs have become a major impediment to South African economy growth. Companies in neighbouring countries such as Namibia, Botswana, Zimbabwe and Zambia also suffer from high energy costs and a fault-prone power supply.
Experts therefore see great potential for solar energy in these countries. For SOVENTIX, with its expertise in the areas of development, technology and financing, this creates attractive growth opportunities.
"Especially in African countries, a safer, cheaper and more environmentally friendly energy supply is becoming increasingly important. Solar energy offers convincing arguments. With our experience and know-how in the planning, realization and financing of solar projects in the region SOVENTIX is an attractive partner. I am confident that we will soon realize similar projects and continue our successful development in the African growth markets," says Claas Fierlings, CFO of SOVENTIX.
