South African real estate developer, New Age Properties, says it has partnered with Sun Exchange, an online leasing platform, as part of an effort to make cheap and clean energy available to low-income people.
Bitcoin for solar cells
Under the two companies’ working arrangements, Sun Exchange, which also accepts payments in BTC form, will allow solar cell buyers to lease electricity to Watergate Estate, one of South Africa’s first low-cost gated community housing project.
Meanwhile, a local news report explains how the completion of this partnership will be an important milestone for South African property developer Anver Essop. In addition to fulfilling its desire to provide “green, safe and inexpensive homes across South Africa”, the agreement with Sun Exchange also helps Essop realize its goal of bringing the benefits or benefits associated with the thriving gated communities in South Africa, to provide low-income people. .
“We thought, why don’t we give people the same product that we build in richer areas and give them a boost to improve their own lives,” explains Essop.
According to the report, Sun Exchange cells can be bought with cash or bitcoin for $ 6 (90 Rands) each. The owners can then “lease the generated electricity to Watergate at a pre-agreed price, saving nearly 40% in electricity costs in 20 years.” Once that point is reached, the project will either be decommissioned or Watergate will be given the option to purchase the solar power system entirely.
Using crypto to offset the carbon footprint
In the meantime, the report also cites Sun Exchange founder Abe Cambridge explaining how the online leasing platform uses bitcoin to power clean energy. Cambridge said:
By combining cryptocurrency and energy, you end up with someone who lives in London and earns an income by selling green energy where it is needed and by offsetting their ecological footprint.
The online marketplace founder also reveals that “approximately 470 people around the world bought solar cells for Watergate, and of the 39 Sun Exchange projects launched so far, this is the first to be used to power affordable homes. to provide.” While the energy produced by the cells will initially be tied to the national grid, Cambridge said it “hopes to add a battery that can store solar energy to protect residents from power outages.”
Meanwhile, the report states that Sun Exchange plans to expand into other parts of Southern Africa through “a partnership announced last year with one of Zimbabwe’s largest fruit and tobacco producers, Nhimbe Fresh.” There are also plans to make the online marketplace a global platform in Latin America and Southeast Asia, where similar energy challenges are experienced.
What do you think of this partnership between Sun Exchange and New Age Properties? Tell us what you think in the comments section below.
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