Solar rooftop providers All Power Systems and Fusion Energy have formed a new company, Synthesis Power Holdings, to take advantage of the growth in South Africa’s solar rooftop energy market.
“Synthesis was created to provide the ultimate solar rooftop proposition to its clients, one which sets the bar high in every aspect; be it, the funding offerings, design, integration, installation, project management, after-sales support, operations and maintenance and ongoing management and reporting services,” Synthesis CEO Jay Naidoo said.
The company has targeted equity of R200-million for its initial installations.
The company is looking to secure optimum and competitive debt funding from commercial institutions to enhance the offering; however, until it does, it will use pure equity funding for its roll-out.
Naidoo believes that commercial rooftop installations within its current model offer an excellent return to equity investors.
“With an average of eight hours of sun a day, it makes economic sense for businesses to [invest in] photovoltaic solar rooftop panels. Synthesis will provide solar solutions for corporates, shopping centres and other commercial enterprises,” he said.