- JSE listed Vukile Property Fund has concluded a five-year R200m use-of-proceeds Green Loan with Nedbank CIB, which will fund 19 solar energy projects and energy-efficiency initiatives across South Africa.
The loan will fund seven recently installed solar energy projects of R60m. In addition, it will be used for eight solar farm installations underway or soon to commence at Vukile’s retail properties, together with four future solar projects, all scheduled for completion in the next 36 months at a combined R140m.
To date, Vukile has installed 14.2 MWp in solar photovoltaic (PV) power systems through 21 different projects, providing 10% of electricity consumed across Vukile’s portfolio through sustainable energy and decreasing Vukile’s carbon footprint by about 20,500 tons of CO2.
Vukile plans to install another 7.4 MWp of solar by end-March 2023, creating an additional 5% of the portfolio’s electricity consumption through sustainable energy and further reducing its environmental impact. Rapp adds “Vukile is committed to environmentally responsible investing and doubling its electricity consumption from sustainable energy projects over the next three years.”
Author: Bryan Groenendaal
