The ambitious undertaking involves the installation of over 13,000 solar panels across an area of approximately 28,100 square meters.
This massive solar array will generate a total of 6 megawatts of electricity, significantly reducing the shopping centre’s reliance on the grid.
The decision to invest in solar power comes in response to the ongoing load-shedding challenges faced by South Africa.
Eastgate’s parent company, Liberty Two Degrees, has committed to a sustainable future and aims to achieve net-zero carbon emissions.
“This is a monumental achievement for Eastgate and a testament to our dedication to environmental responsibility,” said Melinda Isaacs, L2D’s Developments executive.
“By reducing our carbon footprint and ensuring uninterrupted operations during load shedding, we are creating a more sustainable and resilient future for our customers, tenants, and the community.”
The completed solar installation is expected to generate substantial energy savings and contribute to a cleaner environment.
Eastgate Shopping Centre remains committed to providing a seamless shopping experience for its customers, even during challenging times.
European venture capital firm Breega, known for its early-stage investments, has announced the launch of its first Africa-dedicated fund, “Breega Africa Seed I.”
The International Finance Corporation (IFC) has given a $30 million loan to Kazyon, a major Egyptian retail company, to support its growth in Morocco.
Nigerian automotive startup Mecho Autotech has raised $2.4 million in pre-Series A funding to expand into wholesale spare parts distribution.