- South African brands are looking to explore alternative power supply means.
- Brands are looking in the direction of solar even as the country works to improve its power supply.
- Energy needs keep driving brands to seek alternative supply sources.
South Africa’s prominent property group, Growthpoint Properties, is moving to develop its solar power dimensions to handle increasing cost of energy as periodic power cuts resurface intermittently. Eskom, state-influenced power outfit, has its work cut out since households deal with periodic power cuts lasting hours per day. The power outages entice small business to seek alternative power supply means running into millions of Rands.
Growthpoint says it will increase its renewable energy generation in the coming months to cater for its retail sites, raising generation from 13.5 megawatts peak (MWp) to 27.4 MWp before the end of June 2023. Growing brands like Attacq also broadcast recently their plans to cut dependence on diesel generators, looking in the direction of alternatives like battery power or solar. Despite the move to boost its renewable energy output, Growthpoint keeps using diesel generators while awaiting regulatory precision and directive from government regarding renewable energy usage.
Growthpoint has expended about 47 million Rand, equivalent to $2.55 million, on fuel to power generators across its South African points within the six months – June to December last year. The brand’s Chief Executive, Norbert Sasse, said “Our focus remains steadily optimizing our South African portfolio, including reducing its reliance on the national electricity grid and fossil fuels.” The company had reported a 1.3% increase in distributable revenue but hinted on the possibility of slowing down due to uncertainty in the international macroeconomic environment. Growthpoint, bearing a portfolio of about 541 properties across South Africa, the United Kingdom, Australia, Poland, and Romania, said openings spiked in its home retail arm, but lessened in the office and industrial sectors.