NamPower commences construction of 20MW peak Khan solar power plant
Access Aussenkehr Solar One plans to invest US$20.6 million in project
The ground-breaking ceremony for the Khan photovoltaic power plant in Erongo Province of Namibia, took place on March 29, 2022. Officials of the state-owned Namibia Power Corporation (NamPower) attended the ceremony. It will have a ground-mounted solar photovoltaic power plant with a 20-megawatt peak capacity.
“The Khan solar project is a significant contribution to the realisation of NamPower’s capacity expansion, which is part of our integrated strategy and business plan,” Nampower said.
Access Aussenkehr Solar One Namibia will manage the project. The independent power producer (IPP) plans to invest US$20.6 million in the project. It has awarded the construction of this plant to HopSol Africa, a private company in the solar industry. HopSol Africa provides turnkey solutions for photovoltaic power plants, especially in but not limited to desert regions.
The company plans to install 33,000 solar panels, 100 inverters and related equipment needed on a 16-hectare site. For maximum production optimization, the plant’s 67 single-axis trackers are expected to help the attached solar panels to follow the sun’s movement from east to west.
The generated electricity is to be sold to NamPower under a 25-year power purchase agreement (PPA). The power generated will be sold for US$0.495 per kWh. The plant is expected to be commissioned in 2022. The project meets Namibia’s energy policy to generate 70% of its electricity from renewable sources.
Currently, Namibia produces 70% of its electricity from renewable sources such as solar, hydropower, and wind. But it imports about 60% of its electricity from South Africa, through the Southern African Power Pool (SAPP).
The South African Bank Rand Merchant Bank (RMB) conducted the transaction for First National Bank (FNB Namibia) to raise funds on the capital market to finance green projects in Namibia. The green bond listed on the Namibia Stock Exchange (NSX) raised US$24.3 million in three and five-year bonds. Green bonds are bonds created to fund projects with positive environmental and/or climate benefits. The money raised will finance green housing and renewable energy.
Photo: Solar Power Plant - Stock Image (Watchara Kokram | Dreamstime)
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