Lesotho Signs Major Renewable Energy Deal

Lesotho has signed a $15-billion renewable energy deal with a South African company to generate 6,000 MW of wind power and 4,000 MW of hydropower in the country’s largest private investment deal to date.

The Lesotho Highlands Power Project (LHPP) will harness the natural resources from Lesotho’s Maluti Mountains producing power in Lesotho and South Africa while also creating more than 25,000 jobs over 15 years. Harrison & White Investments and the government will provide the equity finance while unnamed Chinese firms will issue the loans.

The first phase of the project will consist of a 150-MW wind farm with construction set to begin in 2012. Phase two will include a new 1,000-MW hydropower station that is expected to cost around $993 million.

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