Western Cape schools in solar energy push
Blockchain company Sun Exchange is in talks with provincial education department to supply renewable power to eight schools
Sun Exchange, a Cape Town-based blockchain company that lets individuals buy into solar energy projects, is in talks to supply renewable power to eight schools run by the Western Cape’s education department. The company, whose backers include global hedge fund Alphabit, has signed agreements with Cape Town’s Protea Heights Academy and one other school in the province, “and we are in advanced discussions with at least another six schools”, Sun Exchange founder and CEO Abraham Cambridge told Business Day. “We expect many schools will follow suit soon,” Cambridge said. The Western Cape’s education and economic opportunities departments had “committed to expedite efforts to help schools go solar”. These on-site solar projects would ease demand on SA’s overloaded national grid and “significantly reduce the schools’ carbon footprints”, he said. Rather than paying upfront installation costs, Sun Exchange’s school and business clients lease solar cells from the individuals who buy into thes...
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