Release signs lease agreement for 21 MW solar plant at Motheo copper mine
Release, owned by Norwegian renewable-energy company Scatec, has signed a seven-year leasing agreement with Tshukudu Metals Botswana, a 100%-owned subsidiary of Australia-headquartered Sandfire Resources, for a 21 MW solar power plant at the Motheo copper mine, in Botswana.
In a media release, the companies say the agreement represents an important milestone in the continued expansion of Release’s mining portfolio in Africa, while also building on Scatec’s established presence and strong record in Botswana following the successful commissioning of its 120 MW solar portfolio in the country.
The project is expected to provide clean renewable energy to the Motheo mine and support Sandfire’s decarbonisation ambitions.
“This agreement demonstrates the strength of our lease-to-own solution, where we combine technical expertise with flexible financing to enable our clients to access large-scale solar without upfront capital investment.
“Bringing this solution to Botswana for the first time and in partnership with mining operation Motheo, is a major milestone for our company,” says Release CEO Hans Olav Kvalvaag.
Release will now begin project implementation, with the start of operations expected by the end of this year.
Once operational, the plant will generate about 40 GWh/y and provide about 30% of Motheo’s yearly electricity demand.
Designed to overcome financial and technical barriers associated with adopting solar energy, Release is offering a flexible leasing agreement for re-deployable solar PV and battery equipment to deliver a low-cost, clean and reliable power solution.
Release is owned by Scatec (68%) and Climate Fund Managers (32%) through its EU-supported Climate Investor One Fund, a $1-billion blended finance facility focused on renewable-energy infrastructure in emerging markets.
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