Project Name: SPAR Lulekani
Type: Rooftop
Size: 360 kW
Age: Energized in 2021
Announcement Article: https://www.energea.com/spar-markets-lulekani-solar-acquisition-south-africa/
Energea continues to put the roughly $3 million of cash in the Africa portfolio to work. What we like most about this new acquisition is the patience and due diligence the Energea Team continues to show.
They know cash on hand needs to be put to work as soon as possible. They know all their investor Energeans push (gently) for that cash to be deployed in assets with a higher return.
But, instead of just grabbing any project that comes along near the African Portfolio goal of 10% IRR, they wait patiently and land one that nearly doubles the IRR.
Wow! Thank you Energea Team!
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