Botswana has raised $100 million to develop its first large-scale solar power plant, which will supply electricity to regional markets as investors respond to growing demand for power and the potential returns from excess generation.
The 100-megawatt Tati Solar Project is expected to start commercial operations next year after it completes its financing arrangements with support from South Africa’s FirstRand Ltd. and Rand Merchant Bank.
About 600 million people in Africa still lack access to electricity, according to the International Energy Agency, while roughly half of the population in Southern Africa remains without power.
The Tati plant will supply electricity to the Southern Africa Power Pool, a system that enables utilities and independent producers to trade power across borders. Bloomberg reported that investors believe there is enough demand to justify large-scale infrastructure investment in the region, according to an executive.
source:www.semafor.com
African Energy Council