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Botswana Finalizes $100 Million Financing for 100-Megawatt Solar Plant to Export Power Regionally
Botswana obtained financing for its first large-scale solar plant. The Tati project will sell power regionally starting next year. South African banks assisted with the arrangements.
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Botswana secured $100 million to build its first large-scale solar plant, Semafor reported on June 22. The 100-megawatt Tati Solar Project will begin commercial operations next year and sell power to the Southern Africa Power Pool, which enables cross-border sales by utilities and independent producers.
Financial arrangements were completed with assistance from South Africa’s FirstRand Ltd and Rand Merchant Bank.
Some 600 million people across Africa lack electricity, according to the International Energy Agency, while about half of southern Africa’s population has no access. An executive said investors are taking a view that there is sufficient demand for the scale of capital infrastructure involved in the project.
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