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

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.