In a bid to reduce the bank branch’s consumption from the national grid to 20% of its daily requirement and show support for the government’s implementation of the Paris Agreement Standard Chartered Bank launched its state-of-the-art solar power system for its Main Mall Branch in Gaborone in partnership with Sustainable Energy Botswana. The bank which is celebrating its 125 years anniversary in Botswana this year took the launch as an opportunity to showcase the installation and offer a live example of putting words into action, highlight the need for more green energy interventions in Botswana and highlight the cost and return benefits not only for the user but the national grid too.
Attending the event was Honourable Lefhoko Moagi, minister of Mineral Resources, Green Technology and Energy Security, Her Excellency Ms. Sian Price, British High Commissioner to Botswana and UK representative to SADC, and Mr. Mpho Masupe, Chief Executive Officer, Standard Chartered Bank Botswana who mentioned that the project was the bank’s first step in realizing their sustainable goal of reducing their carbon emissions as a bank. He further stated that the evolution of the bank, its digitization strategy, and sustainability goals all culminate in their efforts to assist the Botswana government to reach its Paris Agreement commitment to reducing carbon emissions by 15 by the year 2030.
The system installed will:
- Generate an estimated 172,800 kWh of electricity per year,
- Offset P162,744 per year of imported energy from the national grid,
- Displace 10.4 tons of Carbon Dioxide per year
- Export 17,280 kWh of clean energy back to the national grid
- Return on investment in four (4) years