Bespoke rental solutions for businesses, developed by Investec
ReCharge Rental Solutions (RRS) has officially launched in the South African market with a fresh outlook on energy rental solutions. The Investec supported offering, provides customers with unprecedented flexibility, transparency, and value. RRS rents and maintains bespoke energy saving solutions to businesses, residential complexes, industrial factories, farms, and commercial property owners.
As a platform for accredited installers and Engineering Procurement and Construction companies (EPCs), RRS rentalises and maintains off-grid, grid-tied and battery energy storage systems (BESS). Our commercial rental solution provides overall energy cost savings without any initial capital outlay, upfront fees and balance sheet encumbrance.
Through offering a rental solution, businesses are able to direct capital and debt funding towards business activities that can yield superior returns, as opposed to having cash tied up in solar equipment.
In order to provide customers with a rental solution that is both affordable and flexible, RRS offers two products: a five-year rent to own option with a balloon payment at the end of the term, giving customers the option to either own the system outright after five years or re-rentalise the value of the balloon payment; and a five plus five-year rental option, where the monthly rental amount is reduced by up to 50% over the second five-year term. RRS will also acquire energy systems that have been installed by businesses that are looking to unlock capital invested for their business needs via a sale and leaseback.
In an ever-evolving world where technology is constantly changing these options provide customers the choice, at the end to the initial term, to either upgrade and rent the latest energy solution or keep the existing system at a significantly reduced rental.
“There are several factors that distinguish RRS in the market, most notably we understand how needs can change, which is why we offer simplified customisable solutions, with built in flexibility – this means customers can get the solar rental solution they need today and, in the future, while catering to their specific financial requirements,” says Lisa Spain Fine, Chief Commercial Officer for RRS. “With no capital outlay, no deposit or upfront fees, we offer customised rental terms with end-to-end management through our accredited installers and EPCs, including best of breed equipment with 10-year warranties. This, coupled with our exceptional technical support team, gives added peace of mind every step of the way”.
While RRS manages the monitoring, maintenance and servicing of the system, the rental contract is signed with leading international bank and wealth manager Investec.
“We recognise the challenges faced by certain businesses in adopting energy solutions; not only do they need to determine the right-sized solution, manage rapid technological advancements, find reputable installers and EPCs and, maintain the systems at optimal levels, but they also need to determine the best way to pay for these systems. Rental provides a novel and cost effective option for some, as it does not require a significant initial cash outlay.” says Cumesh Moodliar, Chief Executive Officer of Investec South Africa.
RRS’s rental model is also designed to help business owners, achieve tangible savings on their electricity costs which will continue to rise. Unlike traditional rental models where customers are locked into a fixed system, RRS allows customers to increase the size of their system, or upgrade at any time during the rental period, as their energy requirements continue to evolve.
“This flexibility not only future-proofs our customers’ investments but also ensures optimal performance and efficiency over the long term. Given that the electricity grid is highly unreliable and electricity tariffs and diesel costs are consistently increasing, we wanted to provide affordable solutions that give the market flexibility, and which also allows businesses to align their financial goals and cash flow requirements, while reducing their operational risks. In fact, through us, businesses are enabled to use their equity and debt capital to grow their businesses and generate returns, rather than funding capex to produce electricity,” concludes Spain Fine.
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Notes to editors
About RRS
RRS rents energy solutions to businesses. RRS specialises in tailored solar solutions for businesses across various industries within the commercial and industrial sector. With a focus on sustainability, affordability, and flexibility, RRS offers a range of rental options tailored to meet the diverse needs of its customers. By partnering with accredited installers and EPCs, RRS aims to revolutionise the renewable energy sector, empowering businesses to embrace solar energy.
RRS is majority owned by Investec South Africa.
About Investec
Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa, and the UK, as well as certain other countries. The Group was established in 1974 and currently has 7,600+ employees.
Investec has a dual listed company structure with primary listings on the London and Johannesburg Stock Exchanges.
