Astra Energy reveal plans to develop 100MW of clean energy in Lesotho

LESOTHO – Independent Power Producer (IPP) Astra Energy has forged a partnership with the Lesotho National Development Corporation (LNDC) to spearhead the development of a 100MW clean energy park in the southern African nation.

Astra intends to assume ownership and operation of the project as an independent power producer, mirroring the successful business model implemented for other ventures, including the 50-MW Clean and Renewable Energy Park in collaboration with the Zanzibar Electricity Corporation at Kibele Landfill in Zanzibar, and the ongoing development of a 350-MW combined cycle power plant in mainland Tanzania in conjunction with the Tanzania Electric Supply Company.

The aggregate potential of these three projects stands to generate substantial recurring revenues for Astra Energy over an extended period.

Estimated gross revenue for these ventures ranges between US$240 million to US$260 million annually, with a minimum anticipated operational lifespan of 25 years.

The implementation of this project is poised to enhance the reliability of electricity delivery, a critical factor for sustaining a growing economy.

Furthermore, its success is expected to catalyze job creation both directly and indirectly, positively impacting various sectors reliant on a consistent and cost-effective electricity supply.

Astra Energy remains committed to its role in identifying and cultivating new opportunities in clean and renewable energy projects to meet the escalating demands of African economies.

Climate-tech Hohm Energy bags US$8M to scale adoption of rooftop solar

 In related news, Hohm Energy, a Climate Fintech has announced a successful close of US$8 million Seed round to provide an alternative and sustainable energy source.

The funding marks the largest seed round for a tech startup in South Africa and was led by E3 Capital and 4DX Ventures.

It also attracted participation from new investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures.

The company says it will use the new capital injection to accelerate the adoption of rooftop solar in the region by investing in its new cutting-edge climate fintech strategy, additionally bolstering its tech, product innovation and solar installer skills development to make rooftop solar more accessible, trusted and affordable for everyone.

The company will also use the investment to launch the Hohm School program, designed to train and empower local solar installers, through the Hohm Energy Standard for Solar Systems Installations (HESSSI), across the country.

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