French company buys stake in BPC
source: The Botswana Gazette
Tuesday, 27 July 2010 12:45
As Botswana Power Corporation (BPC) subsidiary BPC Lesedi steps up efforts on rural electrification across the country, the company has joined hands with a strategic partner, Electricite de France (EDF) to ease the task.
EDF and BPC signed a shareholders and share purchase agreement which is expected to prop up the country’s solar photovoltaic systems, reducing pressure on the Corporation’s grid electricity.
The purchase agreement saw EDF fork out P14 million, for a 45 percent stake in BPC Lesedi while BPC remains the major shareholder.
And the joint venture is expected to connect at least 2 000 customers by the end of 2011 and reach 50 000 to 70 000 households within 10 years.
Apart from injecting equity EDF will send an expert who will be [continue reading]