Momentum installs solar plants at its offices in Gauteng, the Western Cape
JSE-listed life insurance and financial services firm Momentum Group has installed two large-scale solar energy plants at its Centurion head office, in Gauteng, and its Parc du Cap regional office, in the Western Cape.
The plants generate a combined 7.5 GWh/y of electricity and the group estimates that it will lead to cost savings of R13-million a year, while enhancing business continuity and reducing Momentum’s carbon footprint.
The installations are expected to cut CO2 emissions by 8 900 t/y, which is equivalent to about 3 200 return flights from Johannesburg to London.
Further, the project is grid-tied, with solar panels and inverters feeding into both sites’ electrical systems. This allows solar energy to be used to offset the daytime electrical demand, and thereby reducing the use of municipal electricity.
Both sites use roof and carport spaces to harvest sunlight, Momentum says.
This investment is also expected to break even within a relatively short period, after which the group will continue to benefit from significant cost savings, which will contribute to long-term financial sustainability and provide stable business continuity.
“This investment reduces our carbon footprint while actively contributing to a more sustainable future,” says Momentum Group facilities management oversight executive Lulama Booi.
“Our long-term goal is energy stability and sustainable operations for enhanced energy security. This will maintain consistent service to our clients – irrespective of power interruptions – while also alleviating some demand on the grid,” she says.
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