Mmadinare solar complex (60MW), phase 2

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The project comprises the second phase of the 120 MW Mmadinare Solar Complex, Botswana, with a capacity of 60MW.The plant will be located near Mmadinare, close to the former mining town of Selebi-Phikwe, 400 kilometres Northeast of the capital Gaborone. The sponsor, Scatec ASA, has reached financial close on 19 December 2024 is preparing for construction start. The cost of the second phase of the project is estimated at $58m, as $46.6m are secured as debt funding and the remaining $11.4 are covered by equity. The International Finance Corporation (IFC) provided an A loan of up to $19m, a USD interest rate swap intermediated by IFC and a Parallel loan of up to $27.6m (BWP 380 million) from the South African bank Rand Merchant Bank. In August 2022, Scatec, signed a binding 25-year power purchase agreement (PPA) with Botswana Power Corporation (BPC) for a 60 MW solar PV facility in the Mmadinare District. In the third quarter 2023, Scatec was awarded a 60 MW expansion of the project, taking the total capacity to 120 MW. Scatec owns 100% of the project and will be the designated EPC company, as well as asset manager (AM) and operations and maintenance (O&M) service provider. Construction and operation of the power plants will be managed by Scatec’s organisation in South Africa. The solar power plant will ensure that approximately 48,000 tons of CO2 emissions will be avoided and can power approximately 20,000 households annually. https://scatec.com/2024/12/19/scatec-reaches-financial-close-in-botswana-and-prepares-for-construction-start/ https://scatec.com/2024/12/19/scatec-reaches-financial-close-in-botswana-and-prepares-for-construction-start/