Page 33 - EngineerIT August-September 2025

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Above and beyond refinancing – “The difference was immediate,” says Haden Keeton, Facility Manager for
two tailored options Eden Village. “We chose Candi because of the quality of their people –
Traditional refinancing models typically both their team and installer – as well as their highly competitive pricing.
focus solely on financial relief, but some go They brought deep knowledge, clear expertise and a no-compromise
further – such as the approach of combining approach to getting things right.”
refinancing with long-term performance
management and technical accountability, as “We could restructure legacy agreements and we now also have a
seen at Eden Village. performance-based agreement, with a reliable team on-site and local
support that ensures we are not left in the dark – literally or figuratively.”
“Forward-thinking, flexible refinance options can
be tailored to monetise existing solar assets in The bigger picture
diverse situations,” explains Flamand, outlining “We are seeing a shift in how businesses think about solar,” concludes
two scenarios to Flamand. “Solar should be an asset, not a risk.”

Scenario 1 – Buyout rescue “With tailored, financially attractive, risk-free and end-to-end solar
For companies with an existing solar refinancing solutions, our commercial and industrial clients can unlock
system that has already been paid for or the full value of their existing solar investments and never worry about
own their solar system outright, the system energy security again.”
can be bought out by a solar partner.
“In this scenario, Candi buys the existing “As part of our corporate purpose of powering a more sustainable planet,
system from the company at the market one business at a time, we invite solar asset owners to contact us for a
value: if it is worth R8 million, then Candi will complimentary no-obligation technical check-up and consultation, to
pay the owner R8 million. This not only frees help realise the true potential of their existing solar plant.”
up significant cash flow for the company
but also eliminates all future system risks.
This is because the business no longer About Candi Solar
owns or maintains the system: from the Candi Solar is a pioneering company specialising in highly customised,
financially attractive and risk-free solar power solutions managed end-
date of the buyout, the company simply
to-end, so our commercial and industrial clients can transition to solar
pays per kWh for electricity usage, with zero
energy with confidence and peace of mind.
performance headaches.”
Leveraging its expertise as a solar engineer, financier and operator,
Candi Solar has distinguished itself as a leader in the field, with 165
Scenario 2 – Refinancing the PPA
installations across South Africa and India, generating over 132 MWp
Many companies with underperforming while mitigating an estimated 163,176 tons of CO 2-equivalent emissions
systems are locked into long-term annually since its inception in 2018.
contracts. “Fortunately, existing PPAs can be A trusted partner for businesses looking for sustainable energy
refinanced,” says Flamand. “In these cases solutions, Candi Solar’s impressive portfolio includes projects in South
– as was done with Eden Village – Candi Africa, such as Kings Park Stadium HQ, Schneider Electric, Pick ‘n Pay,
Hi-Tech Inks and Toyota, as well as Bracken Timbers, whose Candi Solar
will settle the existing PPA on the company’s
solution has already generated R3 million in savings, in 3 years; as well
behalf and refinance the solar system on
as Airtel and Jindal Saw in India, where Candi Solar was recently ranked
better, more flexible terms.”
among the Top 3 rooftop solar developers.
This success has inspired global investor confidence, with Candi Solar
“As with the buyout rescue option, this also
recently securing a substantial $38 million in equity investment from
eliminates all future system risks: Candi takes
Norfund, Kyuden International and STOA to fund its growth and finance
over the ownership and maintenance of the an additional 200 MW of business solar projects.
system, and the company simply pays per This propels Candi Solar closer towards emerging as the premier
kWh for electricity usage going forward.” rooftop solar player in the commercial and industrial space and
accelerates its purpose of powering a more sustainable planet, one
A win-win outcome business at a time.
Combining smart PPA refinancing with
For more information about
long-term performance protection enabled
Candi Solar and its innovative
Eden Village to reconfigure its solar plant
clean energy solutions, call
for optimal performance and transfer
Chrizaan de Villiers on
ownership and operational responsibility
082 831 0180 or please visit us
for the existing system to solar experts, at www.candi.solar
ensuring long-term sustainability.

33 | EngineerIT August/September 2025