Monday, July 22, 2024 UTC

Recognized by industry leaders for extensive coverage on African Asset Management

News > Private Equity > Deals

CVE Backs Sustainable Energy for South African Education with Sun Exchange Solar Project

Staff writer
July 25, 2023, 1 p.m.
2599

Word count: 408

CVE South Africa, an international Independent Power Producer (IPP) with offices in Cape Town and Johannesburg, has funded a large solar-plus-battery project that will provide clean power and load shedding relief to one of the oldest and largest technical high schools in South Africa.

Choose ONE Magazine and TWO Articles for FREE when you register an account
Share:

CVE South Africa, an international Independent Power Producer (IPP) with offices in Cape Town and Johannesburg, has funded a large solar-plus-battery project that will provide clean power and load shedding relief to one of the oldest and largest technical high schools in South Africa.

By using the Sun Exchange platform to fund the entire project for High Technical School (HTS) Drostdy, valued at over R20m, CVE is unlocking sustainable energy for education in South Africa, while creating an alternative income stream for its business over the 20-year lifespan of the solar project.

René Laks, General Manager of CVE South Africa, emphasised the importance of education and the wellbeing of future generations in the context of climate change.

"At CVE, we are committed to placing people and the planet at the centre of tomorrow's energy solutions," he said.

"Sun Exchange shares our vision and values, and we are delighted to collaborate with them on this innovative and high-impact project that unlocks decentralised renewable energy for South Africa's education sector,” he added.

The 470.88 kW solar plus 700 kWh battery storage project will supply more than half of the 120-year-old school’s power.

Using a carport PV structure, it will provide essential backup energy, greatly reducing the impact of near-daily scheduled power cuts or ‘load shedding’ on teaching and learning for the school’s 60 teachers and 1053 students.

The project will reduce 13,000 tonnes of carbon emissions each year, equivalent to driving over 196 million kilometres in an average passenger vehicle.  

“South African schools face an uphill battle against rising electricity costs, load shedding, and the need to transition to clean energy for the sake of future generations. CVEs purchase of the entire HTS Drostdy solar project through our platform demonstrates that businesses can be a powerful driver of sustainable energy for schools, while also looking after their bottom line,” said Saul Wainwright, MD, Sun Exchange.

HTS Drostdy’s Principal Louis Steijn said: “Our students already live in and will soon work in a highly digital world. We prepare them for this world by drawing on the latest technologies and innovations in our teaching – our robotics, 3D design and coding classes and most other classes for that matter, rely on access to an uninterrupted energy supply. This project will deliver both reliable and clean energy, while also presenting a valuable opportunity to teach students about the powerful role of technology and innovations, like Sun Exchange, in addressing the impacts of climate change.” 

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration