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60MW solar PV project in Botswana reaches financial close

By Green Building Africa - Net Carbon Zero Buildings and Cities December 16, 2023 No Comments

Botswana's national flag. Credit: iStock

The first 60MW of the 120 MW Mmadinare Solar Complex in Botswana has reached financial close.
In August 2022, Scatec, and the Botswana Power Corporation (BPC) signed a binding 25-year power purchase agreement (PPA) for the construction of a 60 MW solar PV facility in the Mmadinare District.
In the third quarter 2023, Scatec was awarded a 60 MW expansion to the project, taking the total capacity to 120 MW.

Financing for the first 60 MW will be provided by the Rand Merchant Bank in Botswana and the World Bank’s International Finance Corporation (IFC).

Scatec owns 100% of the project and will be the designated engineering, procurement, and construction (EPC) company, as well as asset manager (AM) and operations and maintenance (O&M) service provider. Construction and operation of the power plants will be managed by Scatec’s organisation in South Africa.

The plant will be located near Mmadinare, close to the former mining town of Selebi-Phikwe, 400 kilometres Northeast of capital Gaborone.

Author: Bryan Groenendaal

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Green Building Africa - Net Carbon Zero Buildings and Cities

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.