Old Mutual Investment Group Namibia (OMIGNAM) and Sturdee Energy Namibia have jointly acquired a 51% stake in Alten Solar Power (Hardap) (Pty) Ltd, the country’s largest grid-tied solar photovoltaic (PV) power plant.
The shareholding was acquired from Alten RE Developments Africa B.V. (Alten Africa).
“The transaction demonstrates OMIGNAM’s ability to source, structure, and execute landmark investments for funds under its management. It offers leading Namibian institutional investors, invested in OMIGNAM-managed funds, the opportunity to benefit from owning a stake in critical Namibian infrastructure assets. This achievement leverages OMIGNAM’s proven track record in alternative investments, enhances local participation and active ownership of infrastructure assets, delivers a positive environmental impact, and creates long-term value for Namibian institutional investors and their beneficiaries.”
With over N$500 million already invested in renewable energy projects, OMIGNAM now manages assets with a combined installed capacity of 110 MW.
The transaction marks a turning point in Namibia’s renewable energy sector, enabling Alten Africa to recycle capital into new projects.
For Sturdee Energy Namibia, the acquisition serves as a launchpad to scale its operations both within Namibia and across Southern Africa.
“With this foundation, Sturdee can expand its renewable energy portfolio and offer more competitive energy solutions to public and private sector clients, addressing growing energy demands with sustainable alternatives.”
The transaction was jointly arranged, structured, and implemented by IJG and OMIGNAM.
ENS | Namibia served as legal advisor to the purchaser group. Engling, Stritter & Partner served as legal counsel to Alten Africa, and Standard Bank acted as financial advisor.
