South Africa Launches Green Energy Fund to Promote Tax-Deductible Investments
South Africa’s first private equity fund which enables green energy investors to qualify for tax deductions approved by the South African Revenue Service (SARS) was recently launched. The fund, named Twelve B Green Energy Fund, has a mandate of financing solar panels, batteries, and inverters for residential as well as commercial and industrial (C&I) areas. […]
Rooftop solar tax breaks for South Africa — what to expect
Finance minister Enoch Godongwana is set to deliver South Africa’s budget speech on Wednesday, 22 February 2023, which should see the announcement of incentives for installing solar panels at homes and businesses. However, according to a Times Live report, some experts believe tax incentives will be challenging to implement. The focus should instead be on lowering […]
South Africans can now get tax breaks for investing in renewable energy
South Africa’s first private equity fund which allows green energy investors to qualify for Sars-approved tax deductions has been launched. Section 12B of the Income Tax Act No. 58 of 1962 allows for a tax deduction for certain qualifying assets used for electricity generation from renewable sources. A similar tax incentive, Section 12J, was launched […]
Union seeks to overturn state of disaster to deal with energy crisis
Labour union Solidarity appealed to a court to overturn the state of disaster declared by President Cyril Ramaphosa to deal with the energy crisis. The union is arguing the electricity crisis does not meet the definition of a disaster in terms of the relevant legislation, existing laws can adequately manage the crisis, the declaration of […]
New green energy fund offers investors huge tax break benefits
Listen to the full podcast here. President Cyril Ramaphosa announced during his State of the Nation Address (Sona) that tax incentives are set to be unveiled for households and businesses tapping into solar energy by installing rooftop panels. The incentives would aim “to unleash businesses and households to invest in rooftop solar” and will be […]
New solar investment fund launches in South Africa with a 100% tax break – but there’s a catch
A new solar and renewable energy fund is launching in South Africa, offering investors a 100% tax break using Section 12B of the Income Tax Act. However, investors will need a minimum of R100,000 to get through the door. The fund, called the Twelve B Green Energy Fund, relies on Section 12B of the Income […]
South Africa’s Energy Crisis Sparks Money Manager’s Solar Fund
South Africa’s ongoing energy crisis has caused rolling blackouts, weakened the South African rand and forced the declaration of a state of disaster. An alternative asset manager is touting a new fund that it says will help alleviate that crisis and make investors a healthy return. Grovest’s Twelve B Green Energy Fund will ultimately seek to deploy as […]
Private equity fund launched to replace R12bn Section 12J tax incentive
The Twelve B Green Energy Fund – South Africa’s first private equity fund enabling green energy investors to qualify for South African Revenue Service-approved tax deductions – was launched on February 14. The fund, regulated by the Financial Sector Conduct Authority, has a mandate to invest in solar panels, inverters and batteries in residential complexes, as well as commercial and industrial installations. Section 12B of the Income […]
Private equity fund launched to replace R12bn Section 12J tax incentive
The Twelve B Green Energy Fund – South Africa’s first private equity fund enabling green energy investors to qualify for South African Revenue Service-approved tax deductions – was launched on February 14. The fund, regulated by the Financial Sector Conduct Authority, has a mandate to invest in solar panels, inverters and batteries in residential complexes, as well as commercial and industrial installations. Section 12B of the Income […]
[Podcast] New asset class launched to replace Section 12J tax incentive
The minimum amount for taxpayers to invest in the Twelve B Green Energy Fund is R100 000: Founder Jeff Miller. Listen to the podcast