RMB Botswana Provides 50% of Debt Funding To Mmadinare Solar Complex Project

Rand Merchant Bank Botswana, the Corporate and Investment Banking division of First National Bank Botswana, provided 50% of the debt funding for the Mmadinare Solar Complex Project. RMB Botswana was also the Hedging and Account bank for the project. 

The Mmadinare Solar Complex Project features a 60MW scalable solar PV plant developed by Selebi-Phikwe Solar (Pty) Ltd, a subsidiary of Scatec ASA.

The project, awarded to Scatec ASA by the Botswana Power Corporation (BPC), extends beyond electrification capacity- it is a catalyst for positive change. Under the signed Pow will supply 100% of the power produced to BTC under the Purchase Agreement.

“RMB Botswana’s dedication to environmental stewardship and sustainability underscores our commitment to supporting our client base in their journey towards a greener future," said  Steven Lefentse Bogatsu, FNB Botswana CEO. "We believe in sustainability principles that foster environmental wellbeing and bring mutual benefits to all stakeholders, paving the way for a thriving and sustainable future.”

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