ALTEN Africa has achieved financial closure of what will be the biggest photovoltaic (PV) solar power plant in Namibia, with an installed capacity of 45.5 MWp for an output of 37 MWac.
Financing has been closed with South Africa's Standard Bank and the subsidiary of Agence Française de Développement, Proparco for $50 million.
The executive president of ALTEN Energías Renovables, Juan Laso, commented: "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 1GW, in clean energy infrastructure investments.”
The power plant developer has a majority stake (51%) in the investment vehicle (ALTEN Hardap), in which NamPower also has a stake (19%), together with local investors First Place, Mangrove and Talyeni (30%) led by eight Namibian women.
Solar PV plant
The new power plant will use PV technology, and will be 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.
Once it starts commercial operations, scheduled for September 2018, around 112GWh of clean electricity will be injected into Namibia's national grid, enough to meet 3% of the country's energy needs. Read more: Securing Namibia’s future power network
Luis Castellanos, CEO of ALTEN Africa: said: “We will be proud to work with NamPower and our local partners on this challenge and we are sure that, in a question of months, it will demonstrate the enormous potential of PV technology to meet the area's energy needs.”