Alpha Namibia Industries Renewable Power Limited (ANIREP) says it is targeting to increase its renewable energy generation market share to 30% by 2025.
Iyaloo Nangolo, ANIREP’s Managing Director, said the company want to be part of the strategy of increasing Namibia’s commercial installed renewable energy generation from 150MW to 760 MW by 2025
“As we develop and or acquire more renewable energy generation and increase our market share, where we started 0% in 2020 to 7% in February 2021, to our target of around 30% mark by 2025,” he said during the launch of NamPower’s Omburu solar PV constructed by the company through its subsidiary, HopSol Africa.
“In the past four years, we have already tripled our generation capacity.”
ANIREP listed on the Namibia Stock Exchange on September 12, 2019, after it successfully raised initial seed equity of N$167 million. Since December 2020, the company has since been included in the FTSE NSX Index Series as the only Alternative Electricity Utility entity on the NSX mainboard.”
Nangolo said the Namibia Stock Exchange (NSX) listed-company company has developed a model which could allow the country to address its electricity deficit through renewable energy, an initiative which could require over N$30 billion in investment.
“This exercise is highly bankable and is estimated to be able to attract more than the development cost of N$30 billion. Which is a mere 8% of all Investment Capital in the Namibian financial and capital markets today, put it differently, this cost represents about a quarter of Namibian GDP, which can guarantee energy security, propel the economy, and serve as a solid building block towards achieving vision 2030 goals as envisioned by the government.”
The Omburu solar PV power station, constructed at a cost N$317 million on the outskirts of Omaruru, will be owned and operated by NamPower.
The Omburu 20MW Solar PV Plant will have the capacity to power around 18,500 homes, which is equivalent to around 3 small towns in Namibia.
