London-based clean energy investment firm Pash Global has formed a 50-50 joint venture with Botswana-based project developer Tswana Renewables to build several solar plants totaling 30 MW in Botswana.
The two companies want to invest $35 million in the projects. For two of them, each with a capacity of 400 kW, they have already secured a power purchase agreement (PPA) from Travelodge, a hotel group in Gaborone, and Ramotswe, a plastic manufacturing company for water tanks. The plants are both scheduled to be completed by the end of August.
“Currently, we have 30 MW in the pipeline of 25 to 35 individual grid-tied solar projects of about 400 kW, some being bigger and others slightly smaller,” Kofi Owusu Bempah, CEO of Pash Global, told pv magazine. “The idea is to sell power to private off-takers. We like Botswana because renewable energy penetration is very low, enabling us to directly negotiate with private businesses to support their energy needs and reduce their cost of power.”
The levelized cost of energy (LCOE) of the projects will range between $0.08 and $0.10/kWh. The projects will be located in areas like Gaborone, Ramotswe, and Lobatse.
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The names of the other off-takers will be disclosed once the PPAs are signed.
Pash Global is looking to collaborate with other partners in this project and venturing into other countries like Ghana, Nigeria, Cameroon, Zimbabwe, Mali, and South Africa.
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