Khomas Solar Saver Limited receives second round of funding from Stimulus
Stimulus, with its co-shareholder, has concluded a second round funding call to Khomas Solar-Saver Limited (Solar Saver).
The shareholders have advanced proportionate shareholder loans, which will be used to grow Solar-Saver’s extensive portfolio of solar rental assets throughout the country.
Established in 2016, Solar-Saver offers a long-term rental solution for the installation of rooftop solar photovoltaic (solar PV) systems to corporate and commercial clients in Namibia.
“Our current rental portfolio includes 46 solar PV systems, with clients ranging from retailers to fuel stations to hospitals, and many other businesses. Demand for our offering has been tremendous and our project pipeline should see us commission a further 60 PV systems this year,” said Tim Frankish, one of the founding shareholders and a director of Solar-Saver.
The business model focuses on clients with high-grade properties of long-term relevance and enables them to install a complete solar PV system without any capital outlay. These systems go a long way in fulfilling the demand for cost effective and renewable energy solutions.
“Our clients appreciate the opportunity to ‘go green’ and reduce their monthly electricity costs without the expense and hassle of buying and maintaining their own roof top systems”, Frankish continued.
In an announcement issued through the Namibian Stock Exchange, Josephat Mwatotele, Executive Director of Stimulus Investments said, “Solar-Saver has a highly competent management team with a unique combination of technical and financial expertise. We appreciate the opportunity to support them as the business grows from strength to strength throughout Namibia”.
Caption: Stuart Batchelor (Solar Saver); Pieter Laubscher (Stimulus); Owen Sivertsen (Solar Saver).