Banners
Banners

Latest News

FRANCISTOWN: A former Botswana Police Service (BPS) officer, Atlholang...
FRANCISTOWN: The battle for the Ditladi village chieftainship in the T...
Sprint sensation, Isaac Makwala has qualified for Tokyo 2020 Olympics ...
The Botswana Democratic Party (BDP) once labelled Biggie Butale as a B...
Banners
Banners

Financiers join in as Bots, Nam sign 5GW solar deal

MBONGENI MGUNI
Green tech: Solar power is gaining ground in Southern Africa PIC: POWER TECHNOLOGY
The African Development Bank and two World Bank agencies have joined Botswana and Namibia, as the two countries signed a Memorandum of Intent this week towards the development of a 5,000 megawatt solar power project, which will be one of the world’s largest.

The AfDB, International Finance Corporation and International Bank for Reconstruction and Development inked the Memorandum of Intent with Botswana, Namibia and Power Africa, a US-government entity aimed at boosting electricity investment in Africa. BusinessWeek is informed that the parties had an electronic signing on April 9 and Wednesday had the photographic signing featuring the US Ambassador to Botswana, Craig Cloud.

The two governments aim to have installation straddling their mutual borders, a vast, flat and largely arid area that receives some of the region’s highest sunshine each year.

On Wednesday, Mineral Resources, Energy Security and Green Technology deputy permanent secretary, Nchena Mothebe told BusinessWeek the Memorandum of Intent would support the pre-feasibility and related studies required to advance the project. The financiers who have joined in will help fund the studies and could be involved in supporting the actual project’s development. It is expected that, from previous experience, the feasibility study could cost up to P20 million.

“The project is looking at exports into the region and Botswana has been chosen because of the high amount of solar energy it receives each year,” he said. “We have not yet identified the particular area, but the border between Botswana and Namibia has a lot of land space available with high solar energy.”

Nchena said the costs of the actual project were presently unknown and would be determined by the studies. Experts say typically, such energy projects go through a

Banners
pre-feasibility study focussing on technical details and a bankable feasibility study, which will include costs of the plant, expenses involved in evacuating the power and the tariff that would have to apply to provide a return to the plant.

“The financiers, currently, will support the feasibility but if this proves successful, they could come in to help with the project,” he said. “We have not decided on the firm to do the feasibility yet but the financiers as you know, also have specific procurement requirements.”

Mineral Resources, Energy Security and Green Technology minister, Lefoko Moagi told BusinessWeek the project would boost the country’s self-sufficiency and export potential of energy into the Southern African Power Pool.

The latest developments, particularly the engagement of leading financiers, have taken the mega-project closer to realisation for the two countries. Power Africa, the US-government entity partnering the two governments, has a mandate that includes helping to close financial deals in electricity investment, with 141 agreements finalised worth $22 billion since its launch in 2013.

The Botswana-Namibia deal is mentioned as a priority in the Economic Recovery and Transformation Plan and when done, will be one of the world’s largest solar projects, ranking amongst the top 20.

South Africa has the continent’s largest solar power capacity, measured at about 1,300MW in 2016. Africa as a whole is estimated to have enough solar power potential to account for 40% of the world’s potential.



Business

Banners
Banners ?>

Selefu

Botswana deriorating labour relations

Latest Frontpages

Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper
Banners
Adana Escort Adıyaman Escort Afyon Escort Ağrı Escort Aksaray Escort Amasya Escort Ankara Escort Antalya Escort Antep Escort Ardahan Escort Artvin Escort Aydın Escort Balıkesir Escort Bartın Escort Batman Escort Bayburt Escort Bilecik Escort Bingöl Escort Bitlis Escort Bolu Escort Burdur Escort Bursa Escort Çanakkale Escort Çankırı Escort Çorum Escort Denizli Escort Diyarbakır Escort Düzce Escort Edirne Escort Erzincan Escort Elazığ Escort Erzurum Escort Eskişehir Escort Giresun Escort Gümüşhane Escort Hakkari Escort Hatay Escort Iğdır Escort Isparta Escort İskenderun Escort İstanbul Escort İzmir Escort İzmit Escort Karabük Escort Karaman Escort Kars Escort Kastamonu Escort Kayseri Escort Kıbrıs Escort Kırıkkale Escort Kırklareli Escort Kırşehir Escort Kilis Escort Kocaeli Escort Konya Escort Kütahya Escort Malatya Escort Manisa Escort Maraş Escort Mardin Escort Mersin Escort Muğla Escort Muş Escort Nevşehir Escort Niğde Escort Ordu Escort Osmaniye Escort Rize Escort Sakarya Escort Samsun Escort Siirt Escort Sinop Escort Sivas Escort Şırnak Escort Tekirdağ Escort Tokat Escort Trabzon Escort Tunceli Escort Urfa Escort Uşak Escort Van Escort Yalova Escort Yozgat Escort Zonguldak Escort Alaçatı Escort Aliağa Escort Alsancak Escort Bornova Escort Buca Escort Çeşme Escort Çiğli Escort Gaziemir Escort Karşıyaka Escort fethiye escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort