responsAbility Investments AG has provided funding for Jaguar New Energies (JNE) to finance a portfolio of solar projects for commercial and industrial (C&I) off-takers in South Africa, which was then utilised by New Southern Energy. With this senior and junior lending facility, JNE’s commercial and industrial solar power company will be able to grow more quickly.
JNE’s solar energy projects on rooftops and off the grid give businesses a dependable and affordable source of power. This is understandable given the national grid operator’s ongoing challenges in satisfying South African businesses’ needs at a fair price and a reliable quality of service. JNE is simultaneously addressing a significant issue for South African businesses.
Reduced restrictions have made it possible for JNE customers in South Africa to produce 30 percent of their electricity needs from solar power. South Africa has recently eased its strict permit regulations on solar installations producing over 1 MW, requiring licenses for projects over 100 MW instead of the previous 1 GW threshold. Since restrictions like expensive and time-consuming administrative procedures have been removed, the commercial and industrial solar business has flourished.
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More on the Expansion
“We are thrilled to have responsAbility as a debt provider to JNE for the expansion of a portfolio of solar energy projects across South Africa,” stated Paulo Bello, MD of ForestEffect Fund (a stakeholder of JNE). The obtained funds will provide essential assistance in constructing the over 20MW of renewable energy capacity for various offtakers.
“We are very pleased to announce our engagement with JNE and boosting the company’s operations in providing a cost-effective and reliable source of power to businesses in South Africa,” said Peter Page, Investment Officer at responsAbility. The deal reinforces responsAbility’s dedication and experience in providing climate finance to renewable energy projects across South Africa.
The CEO of New Southern Energy, David Masureik, recently expressed his company’s enthusiasm for helping to spread the PPA business model among South Africa’s commercial and industrial customers. We are really appreciative of NSE’s leadership in the just energy transition and of our relationship with responsAbility.
Now that everything from factories to farms to buildings and machines can function reliably and efficiently, their owners can devote their full attention to providing the highest quality products and services possible.
Jaguar New energies instals dollar power at the business in sub-Saharan Africa, Providing an affordable clean energy solution with no upfront cost, pushed by the Management team of our multi-disciplinary, highly competent investment group.