Astra Energy signs memorandum of understanding for 100 MW Lesotho renewables farm, South Africa

Astra Energy Inc. is delighted to announce the signing of a memorandum of understanding (MOU) with the Lesotho National Development Corporation, facilitated by Aztec Management Consultants Inc. The MOU outlines plans for the development of a 100-megawatt (MW) Clean and Renewable Energy Park in Lesotho, situated within South Africa.

Astra aims to be the proprietor and operator of this project as an independent power producer, aligning with its established business model used in projects like the 50-MW Clean and Renewable Energy Park in collaboration with Zanzibar Electricity Corporation and the 350-MW combined cycle power plant in mainland Tanzania. These endeavors collectively project substantial recurring revenues of $240 to $260 million annually for a minimum of 25 years.

Beyond contributing to Astra’s revenue stream, the Lesotho project holds the promise of enhancing electricity delivery reliability crucial for a burgeoning economy. The success of the venture is anticipated to generate both direct and indirect employment opportunities, positively impacting sectors reliant on a consistent and cost-effective power supply. Astra remains dedicated to identifying and developing new clean and renewable projects to support the growing economies in Africa.