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Kenya launches Africa’s largest wind farm

Kenya launches Africa’s largest wind farm

Kenya last week launched Africa’s largest wind farm project in a bid to boost the country’s power generation capacity and reach its goal of 100%t renewable energy generation by 2030.

Set to contribute 310MW to the national grid, the US$680 million privately-funded Lake Turkana Wind Power project will increase the country’s power supply by approximately 13%, reducing the country’s reliance on thermal generated electricity.

During the inauguration ceremony last week, President Uhuru Kenyatta said the launch of the project was a ‘monumental feat’ showcasing the country’s commitment to pursue clean sources of energy and lower greenhouse gas emissions.

“Kenya is without a doubt on course to being a global leader in renewable energy,” he said, adding that the country has “again raised the bar for the continent as we unveil Africa’s single largest wind farm,” he said.

With an energy mix that consists of 85% renewable energy, Kenya is considered one of the world’s leading countries in the development and implementation of clean energy –particularly in the geothermal sector.

Kenya’s installed capacity increased from 1,768MW in March 2013 to 2,712MW in 2019 through renewable energy projects including the Garissa solar power and Ngong wind power plants. Further, in the last eight months, the country has saved its citizens over KES 8 billion (US$77 million) as a result of a decreased reliance on diesel-generated thermal power.

Welcoming investors to join the country’s efforts to #MakeEnergyWork for greater economic growth through its Big Four Agenda which relies on energy to drive its four pillars – food security, manufacturing, universal healthcare and affordable housing – President Kenyatta said, “I invite other investors, not only within the energy sector but across the full spectrum of the economy, to join hands with government in conceptualizing and delivering transformative projects that secure measurable returns for our people as well as the investors.”

The President also spoke about the vital role of public-private partnerships in making energy work and seeing further development in the country’s energy economy.

“The successful implementation of Lake Turkana Wind Power demonstrates Kenya’s outstanding credentials as an investment destination in Africa and is a perfect example of the immense potential of the public-private partnership model of implementing development projects,” he said.

The African continent is increasingly tapping into its wind power potential in efforts to close the significant power gap. With world-class developments coming online in countries including South Africa, Nigeria and Ghana, Africa is expected to considerably improve power access through the further integration of clean energy.

Hosted under the theme #MakeEnergyWork, the flagship Africa Oil & Power Conference and Exhibition will explore this and other topics showcasing the oil, gas and power sectors as key economic drivers.


 

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.