Lesotho - Mafeteng Solar PV Project

Project represents the first utility-scale solar farm in Lesotho. One Power Lesotho (Pty) Ltd., the Independent Power Producer (IPP) sponsoring the Project,is the winner of a 2016 solar tender issued by the Ministry of Energy and Meteorology(MoEM) to implement a 20 MW solar farm at Ramarathole Village in Mafeteng Province. This grid-connected Project exhibits a high chance of financial close, mainly due to: (i) a strong LoI pledging to offer an equity share as well as to assist in sourcing debt; (ii) advanced PPA negotiations; (iii) consentby the relevant Tribal Area Chief and affected 23 landowners to grant a 99-year leasehold over the required 35 hectares of grazing land, based on a compensation scheme and (iv) environmental clearance granted by Department of Environment of the Ministry of Tourism, Environment and Culture (DoEn).The tariff bracket is already fixed as a result of the solar tender, at a very competitive 0.08-0.09 USD/kWh. Project represents the first utility-scale solar farm in Lesotho. One Power Lesotho (Pty) Ltd., the Independent Power Producer (IPP) sponsoring the Project, is the winner of a 2016 solar tender issued by the Ministry of Energy and Meteorology (MoEM) to implement a 20 MW solar farm at Ramarathole Village in Mafeteng Province. This grid-connected Project exhibits a high chance of financial close, mainly due to: (i) a strong LoI pledging to offer an equity share as well as to assist in sourcing debt; (ii) advanced PPA negotiations; (iii) consentby the relevant Tribal Area Chief and affected 23 landowners to grant a 99-year leasehold over the required 35 hectares of grazing land, based on a compensation schemeand (iv) environmental clearance granted by Department of Environment of the Ministry of Tourism, Environment and Culture(DoEn).The tariff bracket is already fixed as a result of the solar tender, at a very competitive 0.08-0.09 USD/kWh.