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Frost & Sullivan 2012 Africa Competitive Strategy Leadership Award Conferred on Karoo Sustainable Energy Ltd.

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Frost & Sullivan 2012 Africa Competitive Strategy Leadership Award Conferred on Karoo Sustainable Energy Ltd. PR Newswire LONDON, June 18, 2012 - KSE Remains the First and only Independent Power Producer Appointed by the Botswana Power Corporation to Date LONDON, June 18, 2012 /PRNewswire/ -- Based on its recent analysis of the power generation market, Frost & Sullivan recognises Karoo Sustainable Energy (Pty) Ltd; [KSE] with the 2012 Africa Competitive Strategy Leadership Award. KSE is an independent power producer (IPP) actively pursuing power development projects in Botswana since 2008. "The company has exhibited a competitive edge over the other entities operating in the same environment, as reflected by its pioneering position of first IPP in Botswana," notes Frost & Sullivan Research Analyst Celine Paton. "Furthermore, the company has managed to negotiate the first Power Purchase Agreement (PPA) with BPC which constitutes a first step to structure the financing of its - 180 MW power generation project." In 2008, KSE was awarded a 270MW tender, issued by the Botswana Power Corporation, for the development of 270MW emergency power plant. Due to the global economic crisis of 2008-2009, the project was restructured into a 90MW dual fuel (gas and diesel) and 180MW gas power plants. The 90MW became a fast track project jointly developed with BPC and Debswana Diamond Mining Company.
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Frost & Sullivan 2012 Africa Competitive
Strategy Leadership Award Conferred on Karoo
Sustainable Energy Ltd.
PR Newswire
LONDON, June 18, 2012
- KSE Remains the First and only Independent Power Producer
Appointed by the Botswana Power Corporation to Date
LONDON
,
June 18, 2012
/PRNewswire/ -- Based on its recent analysis of the
power generation market, Frost & Sullivan recognises Karoo Sustainable Energy
(Pty) Ltd; [
KSE
] with the
2012 Africa Competitive Strategy Leadership
Award
. KSE is an independent power producer (IPP) actively pursuing power
development projects in
Botswana
since 2008.
"The company has exhibited a competitive edge over the other entities
operating in the same environment, as reflected by its pioneering position of
first IPP in
Botswana
," notes Frost & Sullivan Research Analyst Celine Paton.
"Furthermore, the company has managed to negotiate the first Power
Purchase Agreement (PPA) with BPC which constitutes a first step to structure
the financing of its - 180 MW power generation project."
In 2008, KSE was awarded a 270MW tender, issued by the Botswana Power
Corporation, for the development of 270MW emergency power plant. Due to
the global economic crisis of 2008-2009, the project was restructured into a
90MW dual fuel (gas and diesel) and 180MW gas power plants. The 90MW
became a fast track project jointly developed with BPC and Debswana Diamond
Mining Company.
Companies entering a market affected by shortages generally aim to provide
innovative interim solutions. The same principle has been applied by KSE as it
developed in partnership with BPC and Debswana the Orapa 90 MW emergency
power plant. In addition to its initial role as developer, KSE eventually became
asset manager of the power station in recognition of its skill wealth and vast
experience in IPP markets. In this context, KSE showed flexibility, patience and
a strong ability to listen to BPC requirements by leveraging its competitive
intelligence.
The Orapa 90 MW power plant was commissioned in
August 2011
. "The power
plant will be used for peak load and will run with diesel in a first stage," adds
Paton. "The power plant can alternatively run with gas (sourced from coal bed
methane) thanks to the technology used (dual-fuel GE turbines), which should
provide substantial operating savings."
The Orapa 90 MW power plant will help alleviate the power deficit that
Botswana
is facing during peak hours. This will help contributing to the
country's economic growth as it will reduce the risk of implementing load
shedding measures.
The second power plant of 180 MW (Mmashoro 180 MW) is also planned for
development in the medium term. This project will be built, owned and
operated by KSE. The related PPA with BPC has been fully negotiated and
submitted to the relevant Ministries, for approval and final signature.