Anuva Investments acquires solar project at River Lane Shopping Mall, expanding Anuva Green Energy portfolio

 In Blog

Anuva Investments, based in Cape Town, South Africa, has announced the acquisition of the River Lane Shopping Mall’s solar PV project, located in Emalahleni, Mpumalanga, previously owned by Decentral, alternative power specialists. This acquisition marks an addition to Anuva Investment’s portfolio under Anuva Green Energy (AGE).

Anuva Green Energy (AGE) focuses on facilitating solar project funding through investment funding. Investors are attracted to the opportunity of benefitting from South African Revenue Service’s (SARS) solar funding tax incentive, Section 12B, providing a full tax rebate on investments in qualifying solar energy projects.

The acquired solar project at River Lane Shopping Mall features a total installed capacity of 727.56kWp DC, powered by 6 inverters with 18 strings per inverter, and 1599 solar panels.

Anuva Green Energy has raised in excess of R360 million in capital, enabling shareholders to realise the benefits of investing in qualifying solar projects and fully utilise the Section 12B tax incentive. Section 12B of the Income Tax Act allows taxpayers to deduct up to 100% of their investment in solar power plants from taxable income, with an increase to 125% of expenditure expected for the 2024 Income Tax year.

Decentral, the previous owner of the River Lane Shopping Mall solar project, is a prominent solar and clean energy asset management company, specialising in owning, managing, and leasing solar power assets across South Africa.

Zane De Decker, Chief Investment Officer at Anuva Green Energy, commented, “The Section 12B tax incentive investment vehicle that Anuva has structured has become favourable among investors seeking to reduce tax liability. However, the challenge lies in identifying suitable energy projects for investment. Anuva maintains strict due diligence in selecting solar projects, ensuring their viability and alignment with our investment committee’s requirements.”

Anuva Investments and Anuva Green Energy (AGE) remain committed to supporting the growth of solar energy in South Africa, providing opportunities for private investors. This acquisition contributes to their mission of promoting sustainable energy solutions.

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