In a groundbreaking move for Southern Africa’s energy efficiency landscape, Spark Energy Services has partnered with GreenYellow South Africa to finance a large-scale lighting retrofit project at 93 retail stores across the region. This strategic collaboration underscores the growing role of innovative financing in accelerating the transition to clean energy solutions.
Powering Energy Efficiency Across Four Countries
The initiative spans South Africa, Namibia, Botswana, and Lesotho, where outdated lighting systems will be replaced with energy-efficient LED solutions. This upgrade is projected to save 17GWh of electricity annually—a significant reduction in power consumption that translates to mitigating 18,000 tonnes of greenhouse gas emissions per year.
No ad to show here.
The financing agreement sees GreenYellow South Africa providing equity funding, while Spark optimises the capital structure through debt financing, ensuring long-term sustainability and affordability of the project. GreenYellow, a recognized leader in optimizing energy consumption across lighting, refrigeration, and HVAC systems, brings extensive experience in achieving measurable cost savings and environmental benefits for its clients.
Bridging the Gap in Energy Efficiency Financing
This partnership is a milestone for Spark Energy Services, marking its first venture into Southern Africa’s energy efficiency sector. Through its collaboration with GreenYellow, Spark is unlocking tailored financing solutions aimed at accelerating the adoption of energy-efficient technologies in a region where energy security and sustainability are top priorities.
Adam Fitzwilliam, Director at Spark Energy Services, emphasized the significance of the project, stating:
“This landmark initiative highlights our commitment to driving energy efficiency at scale across Southern Africa. The impact of delivering significant energy savings and emissions reductions across four countries aligns with our mission to accelerate the clean energy transition.”
Michael Ilias, Director at GreenYellow South Africa, echoed these sentiments, adding:
“Partnering with Spark marks an important step in our continued efforts to expand energy efficiency solutions in the region. By integrating our sustainable energy expertise with Spark’s financing model, we are enabling substantial cost savings for Retailability while advancing its sustainability commitments.”
Retailability’s Commitment to Sustainability
As the retail group benefiting from this collaboration, Retailability recognizes the value of this initiative not only in terms of operational savings but also in achieving its ESG (Environmental, Social, and Governance) goals.
Retailability CEO Norman Drieselmann highlighted the importance of the project:
“In collaboration with GreenYellow, Retailability has successfully combined enhanced in-store lighting with our broader energy efficiency targets. This initiative is a critical step in aligning our operations with our sustainability vision.”
Scaling the Future of Energy Efficiency
GreenYellow South Africa has set an ambitious target of deploying EUR 10 million in energy efficiency projects this year, reinforcing its dedication to expanding sustainable energy adoption across the region.
As energy costs continue to rise and sustainability takes center stage, partnerships like Spark Energy Services and GreenYellow South Africa offer a scalable, finance-driven approach to making energy efficiency accessible, affordable, and impactful for businesses across Southern Africa.
