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Norwegian firm raises P650m for Phikwe solar

Friday, June 30, 2023 | 500 Views |

Sun-powered: The Phikwe project is the closest to construction amongst the country’s planned mega-renewables PIC: PHATSIMO KAPENG

Norwegian renewable energy firm, Scatec ASA, has secured a $46 million (P618m) funding package with the International Finance Corporation (IFC) for the development of the 50-megawatt solar plant scheduled to be built in Selebi-Phikwe.

The Norwegian firm won a highly contested tender for the contract in August 2021 and has since been mobilising funding to the tune of $49 million (P658m) required for the plant, which will be the country’s single largest renewable project to date.

The project is being done on an Independent Power Producer (IPP) basis, where Scatec will bear the costs of building, running, and maintaining the plant with the Botswana Power Corporation (BPC) purchasing the power under a 25-year agreement.

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