Hong Kong-based global EPC company Neosun Energy has signed an agreement with Dayizenza Mall in Nelspruit, South Africa, to design and construct a 998 kWp grid-tied solar PV plant. The project is expected to deliver monthly electricity savings of 50-60%, providing both financial and environmental benefits over the solar plant’s more than 40-year lifespan. With a projected internal rate of return (IRR) of 53% and a payback period of only 12 months, the project is financially viable, largely due to the South African government’s Section 12B tax incentive. The solar plant will save over R 164 million and reduce 25,807 tons of CO2 emissions.
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