Solar rooftop providers All Power Systems and Fusion Energy have partnered to form a new solar rooftop company- Synthesis Power Holdings, to take advantage of the growing solar rooftop energy market in South Africa.
Synthesis Power Holdings Chief Executive Officer Jay Naidoo confirmed the reports and said that the company was created to provide the ultimate solar rooftop proposition to its clients, one which sets the bar high in every aspect.
“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,” Jay Naidoo said.
The company has a target of US$ 15m equity for its initial installations and it is currently looking to secure optimum and competitive debt funding from commercial institutions so as 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,” he concluded.
Synthesis will provide solar solutions for corporates, shopping centres and other commercial enterprises in the region.
All Power Systems has done several projects in South Africa such as the Watergate Village in Cape Town where it supplied & fitted 165 100L Solar Water Geysers, 233Kw: Bloemfontein: EPC of 233Kw Grid Tie Solar System and 10Kw: Bloemfontein – EPC of 10Kw Hybrid Solar System with Battery Back-Up.