One of Afrika's biggest solar power projects in Namibia secures funding

One of the biggest solar power PV plants in Sub-Saharan Afrika, by ALTEN Africa, has just secured financing. The solar plant which will be located in the area around Marietta in Namibia, secured and finalized the financing from South Africa's Standard Bank and a subsidiary of Agence Française de Développement, Proparco for a sum reported to be approximately $50 million.

The solar plant's installed capacity will be 45.5 MWp for an output of 37 Mac. It will also be one of the most efficient solar plants in the world, due to the zone's very high radiation levels.

"This achievement builds on the solid commitment being made by ALTEN Energías Renovables to Sub-Saharan Africa. We expect to have excellent results over the next few years, thanks to the support of Inspired Evolution, which gives ALTEN Africa a specialist partner with a team that has experience in the regional market and a track record of close to 1 GW, in clean energy infrastructure investments," said Juan Laso, Executive President at ALTEN Energías Renovables.

With an estimated annual production of 112 GWh, the solar power plant will occupy 100 Has and meet the energy needs equivalent to a population of 70,000 (over 3% of Namibia's population). Namibia has one of the best electricity infrastructures in Afrika and a high level of electrification, but it is also very dependent on imported energy. The new infrastructure will make the country's energy mix more balanced and reduce its energy dependency on other countries in the region by nearly 5%.

The electricity company NamPower and Namibian investors First Place, Mangrove and Talyeni are also taking part in the project. ALTEN Africa holds a 51% stake in the project's investment vehicle, ALTEN Hardap, in which NamPower also has a 19% stake, while First Place, Mangrove and Talyeni have 30%.

The new solar power production plant will use PV solar technology and occupy a land area of 100 Has. It is located in the Hardap region, in the Mariental municipality, 230 km south of the capital, Windhoek. The plant will have around 140,000 crystalline silicon panels mounted on solar trackers and be one of the most productive in the world because of the location's extremely high radiation levels.

Comments