Well done to each member of our team and to all our project partners. Through the passion of our team, and the results the company has delivered over the past few years, Team ZPE has gained the recognition, trust and confidence of this specialist & global climate and impact fund manager.
This long-term partnership allows ZPE & Spark to jointly offer & roll-out fully-funded combinations of renewable energy, energy storage & energy efficiency projects across South Africa via energy service agreements (ESAs) & power purchase agreements (PPAs). Congratulations to both our teams for the months of negotiation, due diligence & compliance checks, and open-mindedness it took to get this novel funding & technology structuring right. This in itself is an achievement to be proud of!
By becoming an official development partner of Camco Clean Energy-managed Spark, Zero Point Energy is now eligible to receive up to 100% upfront financing for the installation and maintenance of on-site renewable energy and energy efficiency equipment for its C&I clients. In a first for Camco, this financing has been structured in line with Islamic Shariah finance principles.
In reaching a funding model that is innovative in both its Shariah-aligned (Islamic) & ethical funding approach, as well as covering broader green technology than only solar PV – this partnership sets itself apart from current PPA funded offerings in the local market.
Camco’s Adam Fitzwilliam, CFA, who heads up Spark, said: “Zero Point Energy is a great example of the type of developer Spark is looking to work with. Its focus on holistic energy management solutions across both energy efficiency and renewable energy technologies makes the company a great fit, and with Spark’s funding it will be able to scale up its delivery of high-quality systems for clients.”
He added: “Investing in a company that is mindful of its own obligations to ensure that the business is run in accordance with its owners’ Islamic beliefs brought about a new challenge which Camco needed to rise up to. We were delighted to have been able to work with Zero Point Energy to design a financing structure that aims to meet Shariah financing principles and enables our companies to prosper from a strong and mutually respectful working relationship.”
Muhammad Taher Khan, Director at Zero Point Energy, said: “Being able to explore various funding mechanisms with Camco and then eventually being able to discuss and agree on a funding model that adheres to Shariah principles speaks volumes of the commitment and support that Camco is willing to undertake to support their development partners. This instils a great sense of confidence and trust in our partnership and one that I’m excited to continue building on.”
This partnership aligns perfectly with Zero Point Energy – South Africa‘s mission to make sustainable energy simpler and cheaper for our clients and to empower their journey towards net-zero energy consumption and environmental impact. Looking forward to discuss further opportunities with all interested!
Here’s to many successfully constructed and operated commercial & industrial scale projects. Truly one step closer to our vision of Revolutionising Africa’s Sustainability!
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Contact Zero Point Energy today to assess, design and install your next fully-funded commercial or industrial-scale renewable energy or energy efficiency project:
Zero Point Energy is a proudly South African sustainable engineering company that provides professional engineering consulting & turn-key solutions in the areas of renewable energy, energy efficiency, energy storage & backup power. The company is a 100% black-owned, 41% black female-owned company achieving a Level 1 BBBEE Contributor status, and has a passion to transform the energy industry without compromising on safety, quality and client satisfaction. Learn more about the company’s team here