from TSOANELO MOKHAHLANE in Maseru, Lesotho
Lesotho Bureau
MASERU, (CAJ News) – LESOTHO is to develop a 100-megawatt Clean and Renewable Energy Park, a development poised to address insufficient electricity supply in the Southern African country.
Astra Energy, through its agent Aztec Management Consultants, has executed a memorandum of understanding with the Lesotho National Development Corporation to establish the facility.
Astra intends to own and operate the project as an independent power producer.
This follows the same business model implemented for both the 50-MW Clean and Renewable Energy Park being developed with Zanzibar Electricity Corporation at Kibele Landfill in Zanzibar, and the 350-MW combined cycle power plant in mainland Tanzania being developed with the Tanzania Electric Supply Company.
The projected gross revenue stream for these projects is estimated at US$240 to $260 million annually over a minimum of 25 years.
“These three projects combined have the potential to generate significant recurring revenues for the company for many years,” Astra Energy stated.
In Lesotho, the project will improve reliability of electricity delivery that is critical to a growing economy.
The success of the project is anticipated to also create both direct and indirect jobs and positively affect other sectors of the economy that primarily rely on a consistent and cost-effective supply of electric power.
– CAJ News