Standard Bank powers up Barnes Fencing with reliable solar solutions
Standard Bank finances Barnes Fencing’s move to sustainable manufacturing
Barnes Fencing Industries (Pty) Ltd (Barnes) is a principal manufacturer of steel products, including wire and fencing for construction, mining and agriculture.
Established in 1993, the company has a large network of clients in South Africa and abroad. On a monthly basis, Barnes produces about 6 000 tons of galvanised wire and products.
Their other products include barbed wire, welded and diamond mesh, field fences, posts, stays, gates and netting wire.
As a result of its resources and expertise, the company has been able to manufacture quality fencing, wire and a wide range of steel products for the industry at large.
The problem
Due to the instability of power supply from the national grid and the fact that the manufacturing process for galvanised wire and other products relies heavily on electricity, interruptions can halt production lines, leading to delays in meeting client orders.
Power instability also impacted the operations in logistics and warehousing, making it difficult to manage inventory and dispatch orders on time.
The solution
Recognising the challenges posed by an unstable power grid, the company partnered with us to finance a series of solar grid-tied systems located at various sites totalling an installed capacity of 3 164kWp.
A grid-tied system is linked to both the solar panels and the main grid. This allows you to draw power from both the solar panels and the grid while automatically feeding any excess solar power back into the grid.
To streamline the project, Barnes engaged with Solareff (Pty) Ltd for a complete turnkey solution, encompassing all engineering, procurement and construction (EPC) services.
We also coordinated with Solareff at every stage of the project to ensure that construction milestones aligned with invoicing timelines as outlined in the project plan.
This, along with our financing expertise, ensured a seamless and efficient project execution. Throughout the process, we provided Barnes regular updates, from the initial credit application to the finalisation of the instalment sale agreement (ISA).
The outcome
The fully operational solar grid-tied systems are delivering significant cost savings for Barnes, who are now able to operate without any disruptions from loadshedding. This reliability has ensured that deliveries are made on time, enhancing customer satisfaction, therefore keeping the business profitable.
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