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As Of Filer Filing For·On·As Docs:Size 9/29/23 Energea Portfolio 3 Africa LLC 1-U:9 9/28/23 1:91K |
Document/Exhibit Description Pages Size 1: 1-U Current Report HTML 90K
Project Owner
|
Energea Portfolio 3 Africa
LLC
|
Project Location
|
Claremont, Cape Town, South
Africa
|
Technology
|
Rooftop Solar
|
System Size (AC/DC)
|
100 kW AC / 106.92 kW DC
|
Estimated Year 1 Production
|
120,000 kWh
|
Coordinates
|
-33.985460 ° S 18.466930 E
|
Roof Status
|
Verified by a third-party
engineer
|
Project Status
|
Under Construction
|
Useful Equipment Life
(Years)
|
25
|
SPE
|
The Sun Exchange (SA)
Bewind Trust
|
Offtaker
|
CPOA Quadrant Gardens
|
EPC Contractor
|
Dorman Projects (PTY) LTD
|
O&M Contractor
|
The Sun Exchange (PTY) LTD
("Sun Exchange")
|
Roof Owner
|
CPOA Quadrant Gardens
|
Asset Manager
|
The Sun Exchange (PTY) LTD
("Sun Exchange")
|
Project
Hard Costs
|
1,443,950
ZAR
|
Project
Soft Costs
|
0
ZAR
|
Developer
Fee
|
482,547
ZAR
|
Total
Project Financing
|
1,944,812
ZAR
|
Debt Funding
|
N/A
|
Equity Funding
|
1,944,812
ZAR
|
Cell
Owner IRR
|
11.2%
($USD)
|
Revenue Contract Term
|
20 years
|
Asset Rental Rate
|
1.63 ZAR per kWh
|
Annual Adjustment
|
CPI + 2%
|
End of Term
|
Unless otherwise agreed to by the Parties, the asset
will transfer to Lessee for no cost. Lessor relieved of obligation to remove
the Project from the premises.
|
Customer Default
|
In the event of a customer default (including any
payment delayed by more than 14 days), Lessor may impose a Termination
Buy-Out Option on the Lessee.
|
Acquisition Costs
|
N/A
|
N/A
|
|
|
|
Modules
|
638,490
ZAR
|
5.97
ZAR/Wdc
|
Inverters
|
112,629
ZAR
|
1.05
ZAR/Wdc
|
Mounting
Materials
|
62,346
ZAR
|
0.58
ZAR/Wdc
|
Electrical
Materials
|
330,076
ZAR
|
3.09
ZAR/Wdc
|
Installation
|
161,499
ZAR
|
1.51
ZAR/Wdc
|
Monitoring
Equipment
|
97,901
ZAR
|
0.92
ZAR/Wdc
|
Hard Costs
|
1,402,941 ZAR
|
13.12 ZAR/Wdc
|
|
|
|
Insurance
|
22,387
ZAR
|
0.21
ZAR/Wdc
|
Engineering
|
18,622
ZAR
|
0.17
ZAR/Wdc
|
Site
Management
|
18,315
ZAR
|
0.17
ZAR/Wdc
|
Soft Costs
|
59,324 ZAR
|
0.55 ZAR/Wdc
|
|
|
|
Developer Fees
|
482,547 ZAR
|
4.51 ZAR/Wdc
|
|
|
|
Pre-COD OpEx
|
N/A
|
N/A
|
|
|
|
Total CapEx (All-In)
|
1,944,812 ZAR
|
18.19 ZAR/Wdc
|
Total CapEx (All-In)
|
98,571 USD
|
0.92 USD/Wdc
|
Asset Lease to Own
Agreement
|
|
Date
|
March 2nd, 2023
|
Parties
|
The Sun Exchange (SA)
Bewind Trust - As Lessor
Cape Peninsula Organisation
for the Aged - As Lessee
|
Term
|
20 years from the
Commercial Operation Date
|
Object
|
Lessor will lease to Lessee
the asset, a photovoltaic electricity power generator, located at Wilderness
Road, Claremont, Cape Town
|
Initial Asset Rental Amount
|
ZAR1.63/kWh
|
Asset Rental Annual
Escalation Rate
|
CPI+2%
|
Escalation Frequency and
Date
|
Annually on the anniversary
of the COD
|
Payment
|
Monthly, within 14 (fourteen)
days of receipt of each monthly invoice
|
Late Payment
|
Interest of 2% (two per
cent) per month
|
Currency
|
South African Rand
|
Insurance
|
Lessor shall insure the
asset from the COD for an amount equal to the full insurable value of the
asset, the premiums and any increases payable in respect of such insurance
being for the account of the Lessor.
|
Buy-Out Option
|
Lessee has the option at
any time to purchase the asset (and all its component parts) from Lessor.
|
Termination Buy-Out
|
In case of termination
pursuant to the Lessee's breach, Lessor is entitled, in its sole discretion,
to exercise the Termination Buy-Out Option, as a consequence of which the
Lessee shall be compelled to pay the Lessor the Buy-Out Price.
|
Remedy of Lessee
|
Lessee's remedy against the
Lessor for a breach of any obligation is to claim specific performance.
Lessee is precluded from cancelling the agreement pursuant to Lessor's
breach.
|
Dispute Resolution
|
Arbitration
|
EPC Contract including Long
Term Performance Tests
|
|
Date
|
April 6th, 2023
|
Parties
|
Sun Exchange (PTY) LTD - As
Customer
Dorman Projects (PTY) LTD -
As Contractor
|
Term
|
20 years from the Commercial
Operation Date
|
Object
|
Technical planning, design,
the procurement and delivery of all necessary components, manufacture,
assembly and construction services as well as the installation and connection
to the Client's electrical reticulation and where grid tied, to the local grid,
which is necessary for delivery and transfer from the Contractor to the
Customer of a fully operational, turnkey Solar Plant, with a total electrical
capacity of 106.92 kWp, which is suitable for safe and continued operation
for a period of at least 20 years after it is connected to the electrical
reticulation.
|
Construction Contract Price
|
R 1,443,950.00 (exclusive
of VAT)
|
O&M Scope of Works
|
The Contractor shall
provide Operation and Maintenance Services, for 2 years post COD and until
the achievement of Final Completion.
|
O&M Contract Price
|
R 21,659.25 (exclusive of
VAT)
|
Delay Liquidated Damages
|
If Contractor fails to
complete the works by the due date, the Contractor shall pay the Customer
Delay Liquidated Damages as set out in Appendix 13.
|
Performance Liquidated
Damages
|
If the guaranteed
performance ratio or guaranteed availability is not achieved, the Contractor
shall pay the Customer Performance Liquidated Damages as set out in Appendix
13.
|
Warranty Period
|
2 years starting from the
date of issuance of the COD Notice
|
Performance Guarantee
|
As a condition to achieving
the COD, the Contractor shall obtain and deliver (at its cost) to the
Customer a Performance Guarantee as security for its proper performance of
its obligations, in an amount no less than 5% (five percent) of the
Construction Contract Price.
|
Design and
Application
|
Bills
|
X
|
Helioscope
Reports
|
X
|
|
Meter Data
|
X
|
|
Site and Roof
Assessment
|
X
|
|
Self-Consumption
Analysis
|
X
|
|
Interconnection
Application
|
Interconnection
Application
|
X
|
Permission to
Install Letter
|
X
|
|
Offtaker
|
Offtaker Credit
Analysis
|
X
|
Lease Agreement
|
X
|
|
Incentives
|
X
|
|
EPC
|
Construction
Set*
|
X
|
Equipment
Warranties
|
X
|
|
Equipment
Purchase Order
|
||
Equipment
Datasheet
|
X
|
|
EPC Contract
|
X
|
|
EPC Insurance
|
X
|
|
Asset
Management
|
O&M
Agreement
|
|
Asset
Management Agreement
|
X
|
|
Investment
|
Project Model
|
X
|
This ‘1-U’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed as of: | 9/29/23 | None on these Dates | ||
Filed on / For Period end: | 9/28/23 | |||
6/4/23 | ||||
5/18/23 | ||||
2/1/23 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/15/24 Energea Portfolio 3 Africa LLC 1-A/A 5:868K 5/06/24 Energea Portfolio 3 Africa LLC 1-A/A 5/03/24 5:868K 4/03/24 Energea Portfolio 3 Africa LLC 1-A/A 4:691K 3/04/24 Energea Portfolio 3 Africa LLC 1-A/A 3/01/24 3:632K 1/04/24 Energea Portfolio 3 Africa LLC 1-A 2:691K 10/10/23 Energea Portfolio 3 Africa LLC 1-A POS 10/06/23 3:727K 10/02/23 Energea Portfolio 3 Africa LLC 1-SA 6/30/23 1:211K Energea Port 4 USA LLC |