Lesedi Solar Care Business Plan — Important Notice & Confidentiality
This business plan (the “Plan”) has been prepared in respect of Lesedi Solar Care (Pty) Ltd (“Lesedi” or the “Company”) to provide prospective investors…
Important Notice & Confidentiality
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- Overview & contents
- Important Notice & Confidentiality
- Executive Summary
- Company Overview & Governance
- Industry & Market Analysis
- The Soiling Problem & Value Proposition
- Market Sizing & Demand Drivers
- Services & Revenue Model
- Contract Economics & Unit Analysis
- Technology, Method & the Water Constraint
- The LumenIQ Platform
- Operations Plan & Depot Network
- Go-to-Market & Contracting Strategy
- Competitive Positioning
- Health, Safety & Quality Systems
- Implementation Roadmap
- Financial Plan & Projections
- Funding Requirement & Use of Funds
- Returns, Scenarios & Sensitivity
- Risk Analysis & Independent Findings
- SWOT & Strategic Analysis
- Management Team & Organisation
- Transformation, ESG & Water Stewardship
- Growth Strategy, Exit & Conclusion
- Annexure A: Detailed Financial Projections
- Annexure B: Assumptions Book
- Annexure C: Scenario & Sensitivity Detail
- Annexure D: Contract Unit Economics
- Annexure E: Risk Register
- Annexure F: Glossary & Methodology
This business plan (the “Plan”) has been prepared in respect of Lesedi Solar Care (Pty) Ltd (“Lesedi” or the “Company”) to provide prospective investors and funders with information about the Company and its operations and maintenance services business. It is illustrative and does not constitute an offer to sell or a solicitation of an offer to purchase securities in any jurisdiction.
Headline capacity, revenue, cost, EBITDA, cash flow and balance sheet figures reflect the sponsor’s projections and are preserved. The taxation, equity roll-forward, working-capital adequacy, service-line reconciliation, downside solvency and investor returns beneath those figures have been independently re-derived by the analyst on a stated set of assumptions. The balance sheet is verified to tie in each presented year.
Financial projections are forward-looking statements resting on assumptions the directors consider reasonable at the date of preparation. Actual results may differ materially. Market sizing, soiling-loss ranges, contract pricing and cost benchmarks are drawn from published industry sources and operator experience current to July 2026 and must be independently verified in due diligence.
This analysis identifies several matters bearing on the investment decision, including an internal inconsistency between the stated Year-5 service mix and the stated contract prices and capacity, the basis on which the investor return multiple is calculated and the shareholding it assumes, the sizing of the working capital facility as the receivables book scales, and the weighting of the market sizing between utility-scale and commercial rooftop segments. These are disclosed transparently in Sections 15 to 19 rather than smoothed.
The sponsor’s model is well constructed and internally consistent in its financial mechanics: the balance sheet ties in every presented year, the cash flow statement reconciles line by line, revenue per megawatt is stable at approximately R111,000 to R112,500 across the projection, and the margin trajectory is consistent with the contract-level unit economics. Independent testing also confirms the sponsor’s central claim of downside resilience: on the stated downside parameters the business remains solvent throughout on the initial raise, with minimum cash of roughly R10 million and no requirement for further equity. The findings that follow concern presentation, disclosure and sizing rather than the integrity of the underlying model.