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Hardap solar plant to assist in the reduction of electricity imports – inauguration of largest plant set for next week

Hardap solar plant to assist in the reduction of electricity imports – inauguration of largest plant set for next week

The current largest solar photovoltaic plant, the 37MW Hardap Solar PV estimated to cost approximately N$800 million will be inaugurated next week Thursday, by the Minister of Mines and Energy, Tom Alweendo.

Power utility, NamPower told the Economist that the plant is expected to deliver approximately 5% of the country’s annual energy demand. However, they said it should be noted that its supply remains intermittent.

“The plant will assist in the reduction of electricity imports, with the goal to make the country self-sufficient and ensure security of supply,” the utility said.

NamPower said prior to its construction, there were several 5MW PV plants erected under the REFIT Programme and at the moment there are two 10MW GreeNam PV Projects installed near Mariental and Keetmanshoop respectively.

The construction activities on site commenced in April 2018 and the plant was fully commissioned and became operational in November 2018.

According to the utility, the tender for the 37MW Hardap Solar PV Project was advertised with a minimum reservation of 30% shareholding for Previously Disadvantaged Persons.

“NamPower retained shareholding for providing the transmission connection, conducting the required development activities (i.e. Environmental Impact Assessment (EIA) and clearance, Geotechnical and Topographical studies, etc.) as well as acquiring and availing the project site,” NamPower added.

In terms of shareholding structure, NamPower said Spanish lead developer, Alten Africa owns 51%; while 30% is owned by three local companies namely: First Place Investments, Mangrove and Talyeni Investments, while NamPower owns the remaining 19%.


 

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Musa Carter

Musa Carter is a long-standing freelance contributor to the editorial team and also an active reporter. He gathers and verifies factual information regarding stories through interviews, observation and research. For the digital Economist, he promotes targeted content through various social networking sites such as the Economist facebook page (/Nameconomist/) and Twitter.

Following reverse listing, public can now acquire shareholding in Paratus Namibia

Promotion

20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.