en.Wedoany.com Reported - The Government of Lesotho has signed a binding memorandum of agreement with U.S.-based Convalt Energy to advance a $6.2 billion renewable energy and digital infrastructure development project, centered on the Kobong Hydropower and AI Data Center project.

The project plans to integrate at least 1,200 megawatts of renewable hydropower capacity with a green AI data center, as part of a broader collaboration that may also include the development of approximately 4.6 gigawatts of solar power capacity (covering both ground-mounted and floating solar installations) and up to 4 gigawatt-hours of battery energy storage systems.

The Government of Lesotho stated that this agreement represents the largest investment commitment in the country's history. However, the project still requires completion of feasibility studies, financing, permitting, regulatory approvals, and the signing of a final agreement.

According to the Government of Lesotho, this development aims to strengthen national energy independence, reduce reliance on imported electricity, create jobs, and support local enterprise development, while enabling the country to benefit from the growing demand for AI and digital infrastructure.

Government spokesperson Boitelo Rabele stated that for years, the Basotho people have talked about the immense potential of their natural resources, and today, parties are beginning to see opportunities to translate this potential into concrete steps to benefit current and future generations. He added that the project offers Lesotho an opportunity to strengthen energy independence, reduce reliance on imported electricity, create jobs, stimulate local enterprise development, and attract further investment.

The Government of Lesotho indicated that if realized, the project could position Lesotho as a regional hub for green energy and digital infrastructure.

Convalt Energy CEO Hari “Harry” Achuthan stated that over the past year, the company has repositioned its business to provide integrated infrastructure solutions for AI-driven and energy-intensive industries. As the company expands its capabilities by leveraging the development and manufacturing expertise of its management team, Convalt is meeting market demand by advancing new activities across the value chain, from infrastructure development and advanced manufacturing (particularly in solar) to building data center infrastructure. The company is pleased to bring clean energy, jobs, and economic development to Lesotho in partnership with local stakeholders.

The Lesotho project company is expected to be part of Convalt International, a proposed entity intended to hold the company's international assets, subject to the completion of necessary corporate and regulatory processes.

Convalt stated that projects developed through Convalt International may use products manufactured by the company's U.S. operations under commercially suitable conditions, and expects to seek funding through a combination of equity investments, multilateral development finance institutions, strategic partners, and project financing instruments.

Convalt noted that, subject to successful project development and the signing of a final supply agreement, the company may also have the opportunity to supply solar modules for the project, with deliveries potentially beginning in the fourth quarter of 2028.

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