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Magnum Gas & Power signs independent off grid power MOU for Botswana

Last updated: 03:00 22 Feb 2016 EST, First published: 02:00 22 Feb 2016 EST

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Magnum Gas & Power (ASX:MPE) and African focused private equity firm Blue Sky Capital have teamed to evaluate supplying independent power to social housing projects in Botswana.

This would be Botswana’s first off grid, net zero energy residential community.

The new company would would be registered in Botswana as an Independent Power Producer for purposes of supplying power to the community and charging homeowners for electricity via a prepaid metering system.

The social housing projects could also generate an offtake for Magnum’s gas, integrating solar power generation.

The projects will help unlock Botswana’s domestic gas and solar resources.

 

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