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Shilunga says investing in renewable energy technologies is inevitably the future – 37MW solar power plant inaugurated

Shilunga says investing in renewable energy technologies is inevitably the future – 37MW solar power plant inaugurated

The Ministry of Mines and Energy, this week inaugurated a 37MW Hardap solar plant at Mariental, in a move that signalled that the country is embracing renewable energy technologies.

The Mines and Energy Deputy Minister, Kornelius Shilunga said investing in renewable energy technologies is inevitably the future for the world, and in Namibia, especially, given the fact that the country is blessed with abundant solar resources.

“The Hardap Solar PV Power Plant, attests to government’s effort in levelling the playing field and creating investment and competitive opportunities for Independent Power Producers, to contribute to power supply. These initiatives do not only target development spending in the country but play a vital role in the energy sector,” she added.

The plant is forecast to deliver approximately 5% of the annual energy demand and will be connected to the nation grid.

According to Shilunga Namibia imported 73% of its annual electricity requirements last year, which is literally the highest import figure recorded since independence, mainly due to the drought experienced in the region, which affected generation at the Ruacana Power Station, as well as the availability of cheap energy on the Day-Ahead Market.

“Between the years, 1990 to 2009, the average annual imports stood at 48% and between 2010 and 2017, it was 38%, an indication that Namibia’s power is in need of local strengthening to alleviate this dependency on external sources,” she concluded.


 

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

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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.