AfrElec: Neosun Energy expands to South Africa to bolster business operations

Neosun Energy, a global builder of solar power stations and battery storage solutions, has entered the South African market, where it will offer commercial solar panels and energy storage solutions with capacities ranging from 200 kW to 10 MW for commercial and industrial (C&I) projects.

The entry comes amid heightened energy access issues in South Africa due to frequent rolling power outages (load shedding) and is driven by soaring electricity and fossil fuel costs, along with the persistent challenge of numerous off-grid areas in Africa lacking energy access.

“Thousands of enterprises in Africa are unable to fulfil business operations and are bearing financial losses due to the limited access to the grid,” said Ilya Likhov, the CEO of Neosun, in a press release.

“The surge in renewable energy investment to $495bn in 2022, juxtaposed against the $371bn in oil and gas, reflects a global shift towards sustainable energy solutions. Neosun’s venture into South Africa is a step towards mitigating business losses incurred due to electricity scarcity and propelling the region towards a sustainable energy future.”

If you would like to read more about the key events shaping the African energy sector, then please click here for NewsBase's AfrElec Monitor.