ANIREP secures new N$300m solar plant deal
Alpha Namibia Industries Renewable Power Limited (ANIREP) has secured a new contract to construct and operate a 18.5 megawatt (MW) solar plant to be located at Kokerboom in Keetmanshoop.
The implementation costs of the project is estimated at N$300 million, with Dundee Precious Metals Tsumeb the off taker.
“Subject to successful PPA negotiations, the project was won via a competitive tender. We are looking at wheeling power over the national grip through a Modified Single Buyer Model,” ANIREP Managing Director Iyaloo Nangolo told The Brief.
“I’m pleased to have secured yet another significant opportunity to contribute to the development of renewable energy in the country, pursuant to the 20MW solar PV Khan IPP announced on 25 March 2022, in addition to the 20 MW Omburu EPC and O&M project with NamPower, which has now been commissioned.”
On completion, ANIREP will be supplying over 50 MW Solar PV as an Independent Power Producer.
He said the Namibian Stock Exchange listed company was also at an advanced stage in negotiations to expand generation capacity at one of its solar plants.
“We have a healthy pipeline of projects, and ANIREP is at an advanced stage in negotiating for the expansion of capacity at one of our current IPP clients from their current 5MW capacity, by adding another 6MW of Solar PV and 3 MW/30MWh of Battery Energy Storage System,” Nangolo said.
“Namibia is facing a deficit in energy, resulting in importation from the Southern African Power Pool. With a vision of becoming a 30% player in the renewable energy sector, ANIREP will continue to pursue installation of renewable energy to contested buyers, further acquisitions and capacity development opportunities and EPC and O&M works, with the view to increasing shareholder value.”
The announcement by ANIREP comes after it broke ground in March for the construction of the 20-megawatt Khan solar plant located 45 km west of Usakos.
For that project, it has secured a 25 year off-take agreement with NamPower, offering a tariff of 49.05 cents per kWh with fixed escalation of power annually.
The Khan Solar plant construction is expected to be completed in March 2023, and subsequent commissioning by May 18 next year.
Out of 170MW PV power plants in Namibia, ANIREP’s subsidiary HopSol Africa has been involved in the construction of 120MW.
ANIREP bought a 70% interest in Hopsol Power Generation (Pty) Ltd, an independent power producer in 2020, owning two 5-MW PV parks in Namibia commissioned in 2015 and 2016 and enjoying a 25-year PPAs.
ANIREP paid the equity consideration of N$88.6 million for Hopsol Power Generation and N$56 million for Hopsol Africa in cash using proceeds from its listing on the Namibian Stock Exchange.
“Our unique vertically integrated structure of being an IPP which also owns the leading EPC and O&M company in Namibia in renewable energy development, has positioned ANIREP to be at the forefront in providing affordable renewable power in the country.”