CLEAN ENERGY PRODUCTION
Emira first started its exploration into on-site, embedded energy production for use at the property with the small, rooftop 271kWp farm at Epsom Downs Shopping Centre. Taking learnings from this pilot project, Emira has recently completed an eighth installation, taking its total production to over 9m kWh annually.
Emira has completed six PV farms within the directly held South African portfolio, within the reporting period.
For the year under review, the PV farms produced:
› 2,7% of the portfolio’s total energy
› 6 832 316kWh (6,8MWp)
Another 1,9kWp has been completed in October 2020 at the Springfield and Market Square centres for a capex spend of R13,98 million. This has increased Emira’s annual production to 9 117 023kWh or 3,6%% of total Fund consumption (FY2020 unaudited total electricity consumption 251 052 783 kWh.)
Further investigations into PV farms include:
› Southern Centre: R10 million capex for 1,2MWp to deliver ~2 141 740 kWh per annum
› Wonderpark Extension: R29 million capex for 3MWp to deliver ~4 630 932 kWh per annum
› Quagga Centre: R10 million capex for 1,2MWp to deliver ~2 000 000 kWh per annum
ENERGY SECURITY — GENERATOR BACK UP
During the year, power outages due to unreliable electricity supply were at their highest level, according to new data from the Council for Scientific and Industrial Research (“CSIR”).
As reported by Bloomberg, data shows that South Africa experienced around 1 500 gigawatt hours’ worth of total power outages as of 2 September 2020. By comparison, the country experienced closer to 1 300 gigawatt hours’ worth of outages between 2015 and 2019.
In a presentation to parliament on 2 September 2020, the power utility’s executives said the nation can expect an unreliable and unpredictable power supply while it repairs poorly maintained generation plants over the next 18 months. In the event that unplanned breakdowns exceed forecast levels, Eskom reported that the country could see up to stage 3 load shedding until March 2022.
To mitigate this risk, Emira installed additional backup generators during the year under review at Epsom Downs Office Park and Hyde Park Lane. Capex on these projects amounted to R5,1 million for a combined production of 2 330kVA. As set out in the graph on page 58, 63% of the total Emira portfolio now has generator backup power.
CLEAN ENERGY PRODUCTION