Moshesh Partners Signs 12 Year PPA With Mediclinic for Six Solar PV Systems

• Private hospitals group, Mediclinic, has signed a 12-year power purchase agreement (PPA) with sustainable infrastructure investment fund manager Moshesh Partners for the installation of solar PV systems at six of its hospitals.
• EPC, ACES Africa will carry out the installations from June to December 2021.

Across the six hospitals, the solar sites installed and managed by Moshesh Partners will have the capacity to generate approximately 4 100 000 kWh/y, with the largest facilities being installed at Mediclinic Vergelegen and Mediclinic Durbanville.

“Having access to on-site clean, affordable energy will help Mediclinic manage its energy costs more effectively, while helping us reduce the group’s carbon footprint – a key priority for our business,” says Mediclinic Southern Africa Infrastructure GM Kobus Jonck.

In April this year, Moshesh Partners, a mid-market black alternative asset manager, reached a first close for its first Renewable Energy and Clean Infrastructure Fund, and is targeting R2billion in assets under management in the next 18 months.

“Our investment in the project portfolio includes the full installation cost of the solar PV systems, as well as maintaining them to ensure consistent, excellent performance. Mediclinic will benefit from immediate and tangible savings, as well as consistent energy supply from a renewable energy source without having to allocate capital expenditure,” says Moshesh Partners CIO and cofounding member Daniel Palm.

“The PPA means that the hospital group will also be protected from excessive power price increases,” Palm added.

Author: Bryan Groenendaal