Inceptus Energy secures financing for UNAM solar project
Inceptus Energy, a public-private partnership between Alensy Energy Solutions (Alensy) and Inceptus Holding, the business arm of the University of Namibia (UNAM), has successfully closed financing with the Development Bank of Namibia (DBN) and Old Mutual Namibia for a pioneering solar project at UNAM.
This collaboration represents a significant stride in promoting sustainable energy utilization in Namibia, featuring an installed solar PV capacity of 3.68 MW alongside a 657 kVA peak shaving solution.
The project, developed by Alensy, underscores the fruitful synergy between the public and private sectors in advancing renewable energy goals.
“As a leading investor, developer, contractor, and ecosystem player in Namibia’s renewable energy sector, we take pride in contributing to this innovative project,” said Norbert Dörgeloh, Chief Executive of Alensy.
“Together with our partners, we are driving positive change and shaping a brighter future for Namibia.”
Beyond its environmental benefits, the project holds substantial economic promise for Namibia. Christoff Bauernschmitt, Head of Alternative Investments at Old Mutual, comments, “Investing in renewable energy projects like this is not only beneficial for the environment but also for our economy. We are excited to be part of this initiative that aligns with our commitment to sustainable development.”
Construction on the project commenced in Quarter 2 of 2023 and is progressing as scheduled for completion by the end of Quarter 1 of 2024.
“The financing of this project reflects DBN’s dedicated focus on financing green industrialization and infrastructure development sustainably,” noted Hellen Amupolo, Head of Investments at DBN.
“By supporting renewable energy initiatives, we are fostering job creation and laying the foundation for a green and industrialized Namibia.”
Furthermore, IJG played a pivotal role in arranging both debt and equity for the transaction.
“IJG’s expertise and dedication were instrumental in facilitating the financing and ensuring the project’s successful execution,” added Jakob de Klerk, Managing Director at IJG Capital. “We take pride in supporting initiatives that drive sustainable development and contribute to Namibia’s energy transition.’
Evaristus Evaristus, Chief Executive of Inceptus, underscores the project’s significance as a testament to the University’s commitment to sustainability, hoping it will inspire similar initiatives elsewhere.
Prof Kenneth Matengu, UNAM’s Vice Chancellor, highlighted that Inceptus Energy’s investment in this renewable energy plant not only aids in reducing the University’s reliance on non-renewable energy but also plays a pivotal role in cutting energy expenses, thereby generating savings.
As the project nears completion, Inceptus Energy remains steadfast in its dedication to promoting sustainable energy solutions and anticipates the positive impact it will have on UNAM, Namibia, and beyond.
From left to right: Christoff Bauernschmitt (Head: Alternative Investments at Old Mutual Investment Group (Namibia); Mirko Maier (Business Analyst at IJG Capital); Evaristus Evaristus (CEO of Inceptus Holding); Wilhelm Wittmann (Senior Portfolio Manager at Old Mutual Investment Group (Namibia); Norbert Dörgeloh CEO of Alensy Energy Solutions); Hellen Amupolo (Head of Investments at Development Bank of Namibia).
