The June 5 Bloomberg-reported deal includes a 1,200-megawatt project that the government says is Lesotho’s largest foreign investment yet, aimed at cutting energy imports and creating jobs.
U.S. company Convalt Energy has agreed to invest $6.2 billion in Lesotho to develop a 1,200-megawatt hydropower project alongside an artificial intelligence data center. Government spokesperson Boitelo Rabele said the plan is the southern African country’s largest foreign investment project to date. The investment is intended to reduce Lesotho’s dependence on imported energy while supporting job creation, linking power infrastructure with data-processing capacity that could broaden the country’s industrial base.