Botswana Solar

active

IFC will support the development of a greenfield 50 MWac (60 MW peak capacity) solar PV power plant (the “Project”) in a 121 hectares site located about 3.6 km from Selebi-Phikwe town and approximately 6.8 km from Mmadinare village in eastern Botswana. Botswana Power Corporation (“BPC”) issued an open and competitive RFQ in August 2019 and in August 2021 selected Scatec (Sponsor) to build, own, operate and transfer the solar plant. The Project will be supplying power to BPC under a 25-year Power Purchase Agreement (“PPA’) signed on August 31, 2022.Power generated at the plant will be fed into the national grid via a 250 m loop-in-loop-out (LILO) transmission line at 220kV which feeds into the existing Phokoje substation. Other ancillary facilities include an upgrade of existing access road of 2.5km and construction of a new 1.5km access road.Ownership of the project (the Project Special Purpose Vehicle (SPV)) is Selebi-Phikwe Solar (Pty) Ltd, a 100% owned subsidiary of Scatec Netherlands. A sell down of 40% of shares in the Project Company to local Botswana investors is envisioned within 5 years after Commercial Operation Date (“COD”) on a best-effort basis. Scatec also incorporated Scatec Botswana Operations (Pty) Ltd which will act as the Engineering, Procurement and Construction (EPC) contractor, the Operations and Maintenance (O&M) contractor and Asset Manager for the project while outsourcing certain specialist roles to subcontractors, managed by the Asset Manager.