The Maerua Mall will this year become the first mall of its size in the country to use solar powered energy in the wake of escalating electricity prices. The Economist caught up with Orxy Properties Chief Executive Officer Stefan de Bruin to discuss the solar installation.
He said, “the solar panels will assist with the reduction of the electricity bill of the shopping centre. The added advantage is the reduction of the load on the national power grid, which will ultimately result in lower carbon emissions into the atmosphere.”
Added de Bruin, “the significant electricity tariff increases have necessitated an initiative to curb this expense, especially the consumption emanating from the common areas in the shopping centre.”
According to de Bruin, Oryx has contracted local company called NEC to do the installation.
Said de Bruin, “the solar installation will generate approximately 1 800 MWh electricity per annum which is approximately 30% of the consumption of the shopping centre. The fact that the panels generate the maximum output during the day when the maximum demand electricity tariffs apply contributes to the financial viability of this project.
According to him, the cost of the installation is N$20 million with an initial yield of approximately 12%, escalating annually with the increase in electricity tariffs.