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We aim to install 20 Mega Watt Solar Plant on Enthorpe farm. The solar panels will feed electricity into the storage units and then it will be sold at affordable prices to clients who are farmers, residents, industries and the government. A Feed-in-tariff agreement with the government is in place.
The solar array will cover approximately 30 hectares, and the frames will be approximately 2m high. The solar panels have a uniform dark blue appearance when viewed from a distance, and glare is reduced by using a textured glass over the solar cells. The combination of the dark neutral colour, low frame height and anti-reflection glass means that they are relatively unobtrusive relative to other agricultural structures such as greenhouses or poly tunnels.
The Project (which will be called MashEn, meaning Mash Energy) has a projected life of 50 years. It is designed to be easily dismantled and have minimal lasting effect on the land.
Enthorpe Farm is owned by Mash Corp P/L and expansion of the MashEn project is possible. acres will be used to build a substation and storage units, 1 acre will be used to build administration offices. The farm is located in the heart of the Hurungwe District, in Karoi and has bad roads leading to the farm. Improvement of these roads rests entirely on Mash Corp.
The scheme is smaller than originally intended because of the lack of investors in the country for the project. MashEn will expand on the farm and other lands that Mash Corp owns. The project will give rise to other projects of the same objective in the province in order to try and contribute to the reduction of carbon emissions and fill in the gap which the country is having due to high electricity demand and low supply. This project will also give a rise to employment ;
MashEn will require significant capital up front for the build, but should then benefit from a steady income each year from the government’s Feed-in-tariff and sale of electricity to other clients. We have used the expected build cost and projected income and annual costs to model the finances over time, and to give an indication of the level of interest we can pay on shares.
As with any projections there are a number of uncertainties in the figures. Whilst we have estimates for the build cost for example, it is prudent to allow some contingency for unexpected costs. The amount of energy we generate will vary from year to year with weather conditions and as panels degrade, and although the demand from the government for electricity is expected to be high, the price we will receive from the sale of electricity will depend on market conditions. We have to allow for possible equipment failure and future changes in tax or allowances such as business rates.
Investment Requirements and Structure
Mash Corp P/L is offering a 69% stake in MashEn Renewable Energy Project. This 69% will cover the US$32 Million needed for the project to run. The company is selling 10,000,000 shares at $ per share which will be 69% of the project’s shares. Individuals and companies may purchase the shares in form of a funding, and share certificates will be awarded to those investors.
Income (Marketing and Sales Projections)
The primary source of income is our client, the government, which is going to purchase half of our generated and stored electricity. Selling to other clients Farmers, Corporates, Industries and households will also give a significant income each year.
20MW of un-shaded solar panels, oriented south at 25 degrees from horizontal, is expected to generate around 20MWh in this location, giving us 100MW per day, based on the standard Micro generation Certification Scheme method for estimating generation.
An allowance of 6% shading should however be made for the lower of the two rows of panels, as they will be shaded in the early morning and late evening by the panels in front.
We had originally envisaged a larger scheme, but because of financial situations we are starting with a 20MW Solar Plant and should funds be available we will be able to build a much larger plant and if we meet our targeted milestones then it would allow us for a bigger expansion. If we are able to expand the system in future, the cost per kW of expansion is likely to be significantly lower than the initial build as the substation and HV connection will already be in place.
A 100 Hectare farm is laying idle waiting for the expansion of the project. Expansion solely depends on financial gains and availability of finances to fund such an undertaking. More 10 hectare farms owned by Mash Corp P/L are situated around the Mashonaland Province; we are aiming for many satellite projects that will feed in to the Project’s objectives and aims.
Any decision to expand would need to be approved by the shareholders at an AGM, and would require additional investment to be raised via a further share offer or a loan.
MashEn Farm will benefit a lot of people and communities in Zimbabwe and the region as whole. Investors are welcome,financially, institutionally and are welcome to buy shares. Some may offer EPC services and or Maintenance services.
Get in touch on | | +2638677113515 | +263777624669 | 15 Midlothian Avenue, Eastlea Harare Zimbabwe