Bitcoin investor funds Pretoria Boys High solar project
We’re thrilled to announce that a crypto investor has used bitcoin to buy 98% of all the solar cells in the Pretoria Boys High solar project!
By using our platform to fund this renewable energy project, this Sun Exchange member will earn an income for 20 years on the clean energy they generate, while the school gains solar power at zero capital cost.
The impact of solar power
The 198 kilowatt solar system will cut 5,800 tonnes of carbon over 20 years, equivalent to taking 210,000 petrol cars off the road for a year.
It will reduce the school’s energy bills and, critically, lower the education leader’s reliance on fossil fuels, such as diesel generators, during load shedding or scheduled power cuts – which have become a feature of South Africa’s energy crisis.
Crypto for clean energy
Here’s what Saul Wainwright, Sun Exchange’s CEO had to say about the news:
“With the impacts of climate change becoming alarmingly real across the world, we must urgently scale solutions that address the solar finance gap for smaller solar projects in emerging markets, while also mitigating the energy crisis," he said.
"This project demonstrates the power of cryptocurrency and innovative fintech to unlock capital for the clean energy transition."
"Together with our global community, we’re forging a path toward a more sustainable future, where clean energy and technological innovation combine to transform the landscape," he concluded.
Our mission is simple — to connect the world to the sun
Sun Exchange's online platform allows individuals and businesses to buy solar cells (with bitcoin or regular currency) that supply power to schools, retirement homes, farms and other organisations in Southern Africa.
Currently, Sun Exchange has over 40,000 sustainability-minded members from across 180+ countries.
The organisations being solar powered pay only for the clean energy generated.
Solar cell owners can elect to receive their monthly income in either bitcoin or South African Rand, paid into an online wallet provided by the platform.
Sustainable innovation to generate electricity
“Solar energy and blockchain are two of the most exciting and transformative technologies of our age, and when I came across this solar project to power my alma mater, I was intrigued and excited,” said the anonymous Sun Exchange member.
“Through the speed of global peer-to-peer digital transactions, as individuals we can finance and benefit from solar power at the click of a button, but also pioneer a new era of sustainable innovation.”
About Pretoria Boys’ High School
Founded in 1901, the esteemed public boys school in Pretoria provides over 1,500 students with a world-class education.
Among its noteworthy alumni of Rhodes scholars, supreme court judges, archbishops, business leaders and sporting heroes are 2021 Booker Prize Winner Damon Galgut, tech entrepreneur Elon Musk, international cricketer Mark Fish, and Max Theiler, who won the Nobel Prize for his vaccine against yellow fever.
The school’s renewable energy journey forges on
“We are thrilled that an old boy of the school and crypto enthusiast has joined our sustainability journey,” said Greg Hassenkamp, Headmaster of Pretoria Boys High School.
“Clean energy will benefit our entire campus, including our classrooms, laboratories, and special venues. At the same time the project will reduce our energy costs and carbon footprint, while also showcasing the significant influence of technology and innovation as the school heads towards a greener future.”