Convalt Chief Executive Officer Hari Achuthan said the project will involve approximately US$6.2 billion in capital investment and is expected to create jobs, develop local skills and stimulate long-term economic growth through large-scale infrastructure development.
Lesotho has approved the Kobong Project, a M100 billion (US$6.2 billion) hydropower and artificial intelligence data centre development backed by U.S.-based Convalt, marking what the government describes as the largest foreign investment in the country’s history.
The project was officially launched during a ceremony hosted by the U.S. Embassy in Maseru on July 31, attended by senior government officials, diplomats and business leaders. Among those present were Minister of Energy and Mining Lejone Mpotjoane, Minister of Information, Communications, Science, Technology and Innovation Nthati Mootosi, and Minister of Environment and Forestry Thabo Mofosi.
Speaking at the event, U.S. Chargé d’Affaires Thomas Hines said the investment reflected a new phase in U.S.-Lesotho relations centred on commercial partnerships rather than traditional development assistance. Describing the initiative as “trade over aid,” Hines said the investment demonstrated confidence in Lesotho’s people, natural resources and long-term economic potential.
Convalt Chief Executive Officer Hari Achuthan said the project will involve approximately US$6.2 billion in capital investment and is expected to create jobs, develop local skills and stimulate long-term economic growth through large-scale infrastructure development.
According to the government, the Kobong Project is designed to strengthen both Lesotho’s energy and digital infrastructure. Once completed, it is expected to transform the country from a net importer of electricity into a regional power exporter while supplying affordable electricity to manufacturers. The development also aims to position Lesotho as a regional hub for AI-enabled digital infrastructure by leveraging its cool climate, abundant natural resources and stable democratic environment.
The U.S. Embassy said it played a key role in facilitating discussions between Convalt and the Government of Lesotho as part of its commercial diplomacy strategy. The Embassy noted that the Kobong Project contributes to US$7.3 billion in commercial partnerships it has helped facilitate in Lesotho over the past 18 months.
The Embassy added that U.S. investments are expected to generate local employment, adhere to environmental and social standards, and operate within the rule of law, supporting sustainable economic cooperation between the United States and Lesotho
