Press Release – June 8th, 2026
Convalt Energy and Government of Lesotho Announce Partnership to Develop Renewable Energy and Digital Infrastructure Projects.
First of its Kind Agreement will Develop up to 1.2 GW of Power Generation and 4.6 GW of Solar and a Large-Scale Data Center.
NEW YORK - Convalt Energy, Inc. (“Convalt US”) has entered into a binding Memorandum of Agreement with the Government of Lesotho for the opportunity to develop renewable energy and digital infrastructure projects in the nation. Under the agreement, which would be undertaken by a subsidiary of Convalt International, a new to be established entity which is expected to hold all the international assets of Convalt US (the parent U.S entity), proposes to develop up to 1.2 GW of power generation capacity, approximately 4.6 GW of solar generation capacity (including ground-mounted and floating solar facilities), up to 4GwH BESS and the facilitation of a large-scale data center project.
Hari “Harry” Achuthan, CEO of Convalt Energy said: “Over the past year, Convalt has repositioned our operations toward providing integrated infrastructure solutions for AI-driven and energy-intensive industries. As our company expands its capabilities by leveraging the development and manufacturing expertise of its management team, Convalt is evolving to meet market needs by advancing new activities across the value chain, from infrastructure development, advanced manufacturing—particularly in the solar sector—to building data center infrastructure. We are thrilled be partnering with our Lesotho partners to bring clean energy, jobs and economic development to their nation.”
Progression of this project remains subject to the ordinary course of development milestones, including feasibility studies, permitting, financing, regulatory approvals, and definitive project agreements. The Lesotho project company is expected to sit within Convalt International — a proposed entity intended to hold all international assets of Convalt Energy, Inc. — pending completion of the requisite corporate and regulatory processes.
Projects developed or owned by Convalt International may utilize products manufactured by Convalt US where commercially appropriate and are expected to seek funding from a combination of equity investments, multilateral development finance institutions, strategic partners, and project finance facilities sourced from international markets.
Subject to the successful development of the project, the execution of definitive supply agreements, and satisfaction of all commercial, technical, and regulatory requirements, Convalt US may have the opportunity to supply solar modules for this Lesotho project. Based on current preliminary assumptions, deliveries could commence as early as the fourth quarter of 2028 and continue over multiple years. While no definitive supply agreements have been executed, management currently estimates that the potential value of such supply opportunities could be substantial, although actual volumes, timing, pricing, and contract values may differ materially from current expectations.
This document contains statements about future events, expectations, and projections that are “forward-looking” within the meaning of applicable securities laws. These statements may include, but are not limited to, anticipated financial performance, market trends, strategic initiatives, and operational plans.
Forward-looking statements are based on current assumptions and estimates, which are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these statements. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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