The HMKLIII JET Fund’s mandate
The primary objective is to substitute the declining remittances from mineworkers with the sale of clean energy to South African mines.
- Transition the Lesotho Economy away from one dependent on the remission of mineworkers' wages to a sustainable economy premised on renewable energy and water;
- Ensure true Just Energy Transition by cascading the economic returns from the HMKLIII JET Funds investment in Lesotho’s
renewable energy projects to social development projects; - Contribute to substantive climate change mitigation though sustainable support for the Renoka programme of protecting the Maluti wetlands and rangelands;
- Driving Lesotho’s commitments to the Nationally Determined Contribution to the Paris Accord on Carbon Neutrality by 2050 but to be the first country in Africa to have a 100% renewable energy sector.
There is only one national renewable energy programme and that is the HMKLIII JET Fund imperative
The HMKLIII is presently seeking catalytic funding to launch the programme. Impact investors supporting the project in its early stages will help a highly-skilled team get the project rolling and be offered conversion notes with the prospect of substantial returns once investments are converted to equity.
The HMKLIII fund seeks a coherent and meaningful equity sharing partnership with developers not only on the proposed on all projects in so far as funding is available;
Our role is to facilitate the passage of these projects at a very pragmatic project level as well as at an administrative and bureaucratic level ie we will oil the wheels and iron out obstacles and distortions; and
The fund will also assist int eh bilateral agreements with other governments, utilities, agencies and private sector offtakes in the SADC region.
Raising Funding though the Voluntary Carbon Markets
