Legací Power the energy startup investing in and developing ‘cheaper cleaner power… faster,’ has announced that its is raising an initial USD 40 million (ZAR 600 million) fund to support residential solar projects in South Africa.
 
The predominant absence in South Africa, of net-metering - a service that enables a residential power producer to get equal credit for excess energy fed-in to the utility grid during times of high production and low usage, and netting against power drawn from the grid over a typical billing cycle - effective storage of power on the grid for later consumption, and the basis on which residential solar is thriving in developed countries with far less sunlight resource than South Africa, and the consequent need to incorporate local (battery) storage for effective independence, generally translates into prohibitively high installation costs recouped over relatively long periods for individual homeowners, especially if they foresee the possibility of moving properties before recovering their investment.
 
The proposed fund is designed to overcome this high barrier preventing homeowners from taking advantage of a highly flexible and mature technology that continues to drop in cost while grid power escalates beyond normal inflation, concurrently channeling alternative investment into the energy market thereby affording the traditional utilities the opportunity to focus their resources in a more targeted and efficient manner which should be welcomed given current economic dynamics.
 
Qualified subscribing homeowners would be able to switch their energy reliance to solar rooftop systems deployed at no cost to them - ‘zero-down’ solar, while paying Legací Power for energy used in most cases at a lower cost than grid power, or a combination of energy used and instalment towards eventual system ownership, on a monthly basis as is custom in traditional supply from the utility.
 
The offering launches in Johannesburg initially for homeowner customers consuming in excess of 1,800 kWh of electricity per month before expanding geographically as well as demographically across the country.
 
Over the past years, Solar PV has developed into a mature and reliable asset class interestingly, with some of the countries at the forefront of realising this, experiencing relatively modest levels of the requisite sunlight resource - significantly less than most parts of Africa.
 
In South Africa the vehicle for such investment has been grid scale energy development through the government backed Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and more recently as Power Purchase Agreement (PPA) discussions in this segment have stalled, focus has shifted at an accelerating pace, to Commercial and Industrial development due to the ease with which qualifying assets owners in this investment category, can access legislated tax efficiencies.
 
Legací Power has developed the means to leverage the same benefits for and therefore deliberately serve, a qualifying demographic within the residential market, thereby creating a relatively safe mid-term investment option in a hitherto, massively underserved yet sizeable and growing market, with an attractive return comparable to high-performing assets of similar maturation horizons for the enterprising investor, savings benefits to the adopting energy consumer, and environmental benefit of least-carbon-footprint energy for society at large.  
 
Legací Power is engaging interested alternative asset investors that see the impact and value of adding renewable energy and in particular, residential rooftop solar assets to their investment portfolio, as well as interested customers - cash, lease, and/or energy sales basis, towards early 2018 deployments.
 

---

Legací Power invests in and develops cheaper cleaner power... faster! 

We create value by de-risking investments and developments through the application of our industry expertise and experience while mobilising our partners and networks in Activities of Advisory, Consultancy, Products & Technology, and Resources across the energy value-chain of Generation, Transmission & Distribution, and Energy Management.
 
Energise tomorrow… today!
www.legacipower.com
 
Contact Us
 
Customers
Website Contact Form: Contact Us
Email: Rooftop Solar
Social Media: Facebook | Twitter | LinkedIn
 
Investors
Contact: Godwin Ndisengei
Email: investors@legacipower.com
Telephone: +27-11-258 8590

Corporate Communications
Email: communications@legacipower.com