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Puma Energy invests $33 million in solar power

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Puma Energy has committed about $33 million to solar power generation through which Malawi and other countries, including Botswana, Ghana, Namibia, Tanzania and Zambia, will benefit.

The company announced that it has 184 solar power generation projects operational across its global network and is on track to hit its target of opening 200 solar projects in 2022.

According to Puma Energy Head of Strategy and Business Development Sophonie Babo, in Malawi, there are 13 sites with a peak capacity of 233 kilowatts already being developed.

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Babo added that the 200 solar projects being delivered by the end of 2022 are 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. By installing solar on our own assets, we have demonstrated our ability to offer our customers solar solutions. Our aim is to help them hybridise their energy sources and reduce emissions across their operations,” Babo said.

The 184 sites, now operating across the company’s retail network, represent 39 percent of the 467 company-owned and leased stations where solar installations are commercially and technically feasible.

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In its ESG Strategy published in July 2022, Puma Energy set a target of installing 200 solar projects across its global network by the end of the year.

Once operational, the solar projects will have a combined capacity of 6.6 MWp and are expected to generate 9,311MW of renewable electricity per year.

Babo further said the aim of the solar generation 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 local dealers.

“The expertise Puma Energy has developed by installing solar at its own retail sites now allows the company to offer its commercial and industrial customers solar generation packages and other low carbon energy solutions alongside the fuels it has traditionally supplied,” Babo said.

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