Fibon Energy WINS at the annual Vision 2030 Awards

21 November 2019, Johannesburg – The annual Vision 2030 Awards took place on 21 November 2019 and Fibon Energy won the Driver for Change award. The award recognises one company a year in South Africa for its ‘outstanding commitment and contributions to moving the nation forward, as a leader in the sector and as a proponent of the national development plan.’

There to accept the award on behalf of Fibon Energy was CEO, Avesh Padayachee. “This is indeed an honour especially considering the other finalist companies and the great work they are doing.” Other category winners included VISA, Exxarro, Yuppiechef, Sentech and Bosch to name a few.

Avesh was humbled at the acknowledgement and paid tribute to his team. “I’m so proud of the work we do and especially in 2019, as a team we have managed to achieve so much in our vision to provide access to electricity at an affordable cost in South Africa.

It has been a ground-breaking year for Fibon Energy who will enter 2020 with over R100M in Solar PV assets under management.

The awards which took place at Emperors Palace in Ekurhuleni form part of the 17th Annual National Business Awards, in which Avesh himself was a finalist in the Top Exec <40 category.

Top 3 Financial Benefits of a Solar Power Purchase Agreement (PPA)

According to a recent Council for Scientific and Industrial Research (CSIR) study, retail electricity tariffs in South Africa increased by just under 400% in 10 years, and its set to continue on this upward trajectory for years to come. One solution to this trend is a Solar Power Purchase Agreement (PPA). Financial Director of Fibon Energy, Bonnie Cornish-Bowden unpacks the top 3 financial benefits of a Solar Power Purchase Agreement (PPA).

1. Mitigate the risk of increasing Tariffs
From 2019 to 2021, South African companies are likely to experience a minimum increase of 29% in your electricity charge. That means if you are currently spending R150,000 per month, you can expect this to increase to around R194,000 per month. By entering into a PPA, your company will no longer be at the mercy of tariff hikes. Committing to a lower renewable energy price will decrease your financial risk with respect to increasing electricity prices.

2. More reliable Long Term Opex Forecasts
Entering into a long-term PPA allows your financial team to forecast utilities far more reliably. You will know what your tariff is with certainty and then the only variable will be your company’s energy consumption. The below graph depicts the difference between what you could be paying monthly for traditional power in 20 years’ time, compared to when using a PPA.

Fibon Energy can assist with your PPA and Solar PV needs
Graph illustrating the costs associated with municipal electricity costs vs a more manageable and cost effective PPA.

3. No Capex approvals required
A PPA will come through your Income Statement, having no impact on your approved Capex Budget. You’ll receive a long-term benefit with no upfront capital investment requirements.

Fibon Energy’s CEO is a finalist at the 17th Annual National Business Awards

Fibon Energy’s CEO named as a finalist in the category, Top Young Executive of the Year (<40) at the South African National Business Awards: The Oscar’s of South African business

The annual National Business Awards have announced their 2019 finalists, one of which is Fibon Energy’s CEO, Avesh Padayachee. These awards recognise the innovation, success and ethics of South African companies and leaders in all industry sectors. The Awards also recognise the important social and environmental contributions made by organisations through the excellence of service, commitment to their customers, ethical behaviour and environmental sustainability.

On receiving the finalist nomination, Fibon Energy’s CEO commented, “recognition of any kind is always a great honour but I am truly humbled that we’ve been recognised by the South African National Business Awards, especially considering all the other companies we’ve been named alongside.”

With categories such as the Innovation Award, Fast Growth Business of the Year Award, Sustainability Award and the headline National Business of the Year Award, the National Business Awards are all encompassing when it comes to recognising champions of industry.
It has been a ground-breaking year for Fibon Energy who will enter 2020 with over R100M in Solar PV assets under management, producing a total of ~8 MWp of power across South Africa.

The winners will be announced and celebrated on 21 November 2019 at Emperors Palace, Ekurhuleni.

Fibon Energy is a finalist at the Vision 2030 Awards: South Africa’s Future Makers

The annual Vision 2030 Awards have announced their 2019 finalists!  
The awards recognise the achievements and success stories of organisations, enterprises and individuals that are actively demonstrating alignment to the government’s Nine-Point Plan to boost economic growth and achieve the milestones set by the National Development Plan (NDP).
Fibon Energy has been nominated in the Driver For Change Award category for its commitment and significant contributions to moving the nation forward, as a leader in the sector and as a proponent of the national development plan.’
CEO of Fibon Energy, Avesh Padayachee is honoured to receive the nomination after what has been a significant year for the company in its vision to drive renewable energy solutions in the country. “It’s a great honour to receive this nomination particularly in the Driver for Change category because that’s exactly at the heart of what we do. All of our projects and innovations are about harnessing new ways of thinking about how we consume energy, generate energy and reduce cost for our clients,” says Avesh.
Leading by example, the winners showcased by the Awards will inspire their sector peers, and stakeholders nationwide to pledge commitment to the NDP – not in words alone but also in actions that move the nation forward.
Avesh notes, “the Vision 2030 Awards and Summit identify and share best practices of companies that have implemented successful development and investment projects and can clearly demonstrate success with measurable returns in relation to projects aligned to the NDP.”
The winners will be announced and celebrated on 20 November 2019 at Emperors Palace, Ekurhuleni.