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HomeBusinessPuma Energy seeks to invest $33m in solar projects

Puma Energy seeks to invest $33m in solar projects

PUMA Energy has identified Zambia as one of the coun- tries in Africa where it seeks to invest an initial US $33 million in solar projects.

Other countries to benefit from the investment were Malawi, Tanzania, Botswa- na, Namibia and Ghana.

Puma Energy had 184 solar power generation projects operational across its global network and was on track to hit its target of opening 200 solar projects in 2022 with a combined capacity of 6.6 Megawatt (MW) peak and were expected to generate 9,311 MW per hour of renewable electricity annually.

According to a statement yesterday, Puma Energy head of strategy and business development Sophonic Babo said in the company had nearly 2000 retail sites in its network and had as- sessed how many were suit- able for solar installation.

“The aim of the solar gen- cration initiative is not only to reduce Puma Energy’s greenhouse gas emissions on the sites and depots it owns, but also to reduce the emissions of the local deal- ers who operate many of the retail sites in Puma Energy’s network,” he said.

He said the 184 sites now operating across the company’s retail network represented 39 per cent of the 467 company-owned and leased stations where solar installations are com- mercially and technically feasible.

Mr Babo said the ex- pertise Puma Energy had developed by installing solar at its own retail sites allowed the company to offer its commercial and industrial customers solar generation packages and other low carbon energy solutions alongside the fuels it had traditionally supplied.

He said Puma Energy set a target of installing 200 solar projects across its global network by the end of the year 2022.

“The 200 solar projects we are delivering is just the start of a broader strategy to contribute to the energy transition in Africa. Many of our commercial and industrial customers are looking to reduce their carbon emissions,” he said.

He said Puma Energy had demonstrated its ability to offer its customers solar solutions by installing solar on its assets and that the aim was to help them hybridise their energy sources and reduce emissions across their operations.

The company 184 operational solar at sites in Ghana, Malawi, Botswana, Namibia, El Salvador, Hon- duras, Nicaragua, Panama, Puerto Rico, Guatemala and Papua New Guinea as at December 9, 2022.

Solar projects are being installed at Puma Energy retail sites in Botswana, Malawi and Tanzania.

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