[LISTEN] 'While the kilowatt/hour charge is slightly higher, you know your additional charges are not going into just a black hole, but actually into infrastructure,' SpearReit CEO Quintin Rossi on MoneywebNow with SimonPB. Download the podcast below.
SIMON BROWN: I’m chatting now with Quintin Rossi, CEO at Spear Reit. Spear is a Cape Town-based Reit. They’ve their pre-close presentation at 12 o’clock today. It will be on their YouTube channel. That’s for financial year 2023.
But what we’ve done is we’ve taken an approach that we want to try and cover as much of us of our assets in PV solar. So at this point in time, if you look at total portfolio need, we need approximately 20MW to 22MW of power across our business in terms of needs. We currently have about 5.3MW of PV solar plant installed across our portfolio, and that’s going to be scaling up to about 7.5MW to 7.6MW.
QUINTIN ROSSI: Unfortunately I doubt it. For Spear and for any company or any person needing to run a feasible business, we need base load, and the base load, unfortunately, does not necessarily get supplied by renewables.
But one of the things that’s very attractive from a Western Cape perspective is that on the City of Cape Town grid there is a general undertaking from the city. We enter into curtailment agreements on our large industrial assets, and then all our tenants on those complexes agree to reduce their load, which then means that they do not get load shedding, which creates business continuity.
QUINTIN ROSSI: Hundred percent. That’s absolutely true.
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