Oman Sovereign Wealth Fund to Drive Botswana’s Mega Solar and Battery Projects

Oman Sovereign Wealth Fund to Drive Botswana’s Mega Solar and Battery Projects. Botswana is set to take a major step in renewable energy development with the announcement that the Sovereign Wealth Fund of Oman, through the Oman Investment Authority (OIA), will finance a 500MW solar and battery storage project in the country.

President Duma Boko revealed the initiative during a parliamentary address on Wednesday, noting that the project will focus on Maun and Letlhakane. The announcement follows his recent visit to Oman, where government-to-government engagements laid the groundwork for the investment. The OIA delegation is scheduled to arrive in Botswana on 26 November 2025 to officially begin the project rollout.

“This initiative will significantly reduce the cost of electricity production,” President Boko stated. “Electricity prices for consumers will go down, the base-load grid will be stabilized, and government subsidies to the Botswana Power Corporation will no longer be necessary.”

Currently, the Botswana government provides around $75 million annually in subsidies to the Botswana Power Corporation (BPC). With the implementation of these solar and battery projects, these subsidies are expected to be eliminated, enabling BPC to achieve profitability and strengthen its financial position.

Beyond financial benefits, the project aims to enhance energy security and sustainability in Botswana, supporting long-term growth and stability in the country’s power sector. Officials indicated that the development of the Maun and Letlhakane sites will contribute to both job creation and local economic activity, as well as promote Botswana’s transition to renewable energy sources.

The partnership represents a significant milestone for Botswana’s energy sector, highlighting the role of international investment in expanding renewable energy infrastructure while improving affordability and efficiency for consumers.