Jindal Power’s Botswana subsidiary, Jindal Energy Botswana, has secured an offshore loan of about US$470 million to fund the 700 MW Mmamabula coal‑fired power plant.

The nine‑year facility is being provided by an Indian lender consortium comprising Axis Bank, ICICI Bank and the Export‑Import Bank of India, with international institutional lenders expected to join the syndication.

The loan carries an interest margin of 300‑325 basis points over the Secured Overnight Financing Rate and may see borrowing costs fall once the plant is operational.

The project is built in two phases – an initial 350 MW baseload unit followed by a second 350 MW block – delivering a total net capacity of 700 MW.

According to the developer, commissioning is scheduled for December 2026, after which the plant will supply electricity to Botswana Power Corporation and feed surplus power into the Southern African Power Pool.

The plant will draw coal from the adjacent Jindal Mmamabula Coal Mine, and the developer has outlined a longer‑term plan to expand capacity to 1,200 MW and integrate solar generation, though these extensions remain future proposals.

Strategic relevance for Botswana’s power sector

The Mmamabula project is intended to boost Botswana’s domestic generation capacity, reducing reliance on imported electricity and meeting growing demand from mining and industrial activities.

By linking to the Southern African Power Pool, the plant could export surplus power to neighbouring countries, supporting regional energy trade.