New funding option for firms looking to go solar
In February this year, the finance minister announced an enhancement to the section 12B tax incentive, in terms of which taxpayers will be able to claim a 125% deduction in the first year for all renewable energy projects, without a threshold on generation capacity.
Jaltech partner Jonty Sacks said: “From the perspective of companies who are looking to raise capital for solar, Section 12B has now become very appealing, as fund managers have raised capital and can offer rates way better than traditional financial institutions because we are not subject to the same regulations as they are.
“Traditional institutions are only able to fund a portion of a project, but since section 12B fund managers are not subject to banking legislation, we can fund an entire project. The terms we offer are also more attractive,” said Sacks.
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