Megatech Acquires $113M Renewable Energy Project to Strengthen MGT Token Value Proposition with Migration to BSC and Rebrand

Johannesburg, South Africa, 3rd March 2022, ZEXPRWIRE, Megatech Solar is excited to announce the acquisition of their green renewable energy and storage project Beta in Hertzogville, Freestate, South Africa. The project stands as fully-developed and compliant with all legislative requirements. It is also signed off by all applicable authorities, including the national energy supplier, Eskom.

The acquisition goes beyond the expectations of its initial roadmap, further increasing value to its token holders in the long run. Likewise, it aims to utilise the MGT token for P2P green renewable energy trade among consumers. Soon to come are Green MGT Megaverse and carbon credit-backed NFTs.

The Beta project value stands at $113 million, encompassing a 60-megawatt farm and a 100-megawatt world-class storage technology. The move increases profitability with the opportunity to sell green energy at peak rates, blue chipping listed parties who previously signed the project for kick-off.

The project approximates its profits at $624.568 million in the next 20 years from selling green energy and trading carbon credits. Moreover, it will be battling carbonization and reducing the carbon footprint of large energy consumers.

How the Project Will Bring More Value to Token Holders

The project will dedicate 40% of its profits to the custodian company, MGT Solar PTY. Its management falls under the fiduciary directors, who also act as custodians for token holders participating in the performance staking program.

Notably, all the profits garnered from MGT Solar PTY will go to participating token holders as financial rewards.

The mechanism ensures that despite the MGT token being a utility token, holders can be rest assured that the projects and plants are backing its value and rewards. As such, this factor ensures sustainability and increased value to all holders.

A Token Built to Push Sustainable Green Energy

Each MGT Token is backed by MGT Solar PTY Ltd and the 60mw solar plant. Notably, the first two plants will kick off in 2022. Additionally, the whole project is a golden opportunity as green energy projects take up to 60 months for development and maturity to beta status.

Along with these new steps, the project transitioned to the Binance Smart Chain, known among the most progressive platforms offering support to upcoming projects. 

The project rounded up its ICO and is boasting a listing on the Bitmart exchange, with the next exchange listing scheduled to occur on 7th March. It hopes to round up 3 more listings on major exchanges in the coming 6 weeks. 

About Megatech

MGT Solar (PTY) Ltd is an Alternative Energy Supply firm. It adopts the most advanced green sustainable energy technology to solve feasibility issues while assuring maximum efficiency and profitability.

There is high demand for electricity supply, particularly in Africa, and one of the most significant challenges is developing feasible and sustainable green energy solutions. Hence, combining cutting-edge solar energy technology, revolutionary storage technology, and a dynamic funding model was necessary to ensure minimal turnaround time and exponential profitability.

Megatech has recently updated its branding strategies and now has new social handles. Follow the new Megatech socials by clicking on the links below;

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Media Contact:

Edward Neilson

Chief Executive Officer (CEO)

[email protected]

Published On: March 3, 2022