Hopes of improving Namibia’s energy sector through diversifying the energy mix are high.
This came after the recent introduction of reforms in the country’s renewable energy sector and the growing presence and entry of international oil companies in the hydrocarbons sector.
Minister of mines and energy Tom Alweendo announced this during a webinar hosted by the African Energy Chamber in partnership with Africa Oil & Power on Friday.
His statements first appeared on the platforms of the APO Group, a press release distribution service in Africa and the Middle East.
The minister expressed optimism about the country’s energy future and said Namibia is looking forward to collaborating with the private sector to attract further investment.
“There are very positive and encouraging signs when we talk about the hydrocarbons sector. We have had a couple of investors who are keen to enter the market and potentially find something,” Alweendo said.
He said the country has been able to introduce some reforms in the renewable energy sector enabling independent power producers to access the sector and produce clean energy – especially through solar and wind power.
Alweendo said his ministry is currently reviewing the Kudu Gas Project’s business model and hopes to develop the project further.
He said the National Oil Storage Facility was supposed to be finalised in March, but was deterred by the Covid-19 pandemic.
Despite this, the ministry is exploring other avenues to complete the US$370 million project by the end of 2020.
Meanwhile the Baynes Hydroelectric Dam Project of the Namibian and Angolan governments is currently undergoing feasibility studies and construction is scheduled for 2023.
The 600 MW output will involve 300 MW for Angola and 300MW for Namibia.
African Energy Chamber executive chairman NJ Ayuk encouraged a practical and realistic energy transition which addresses the continent’s energy needs first.
“Oil and gas are going to be around for a long time and will remain a major part of many countries across Africa. The same can be said for clean energy. We have to be environmentally conscious and ensure that lowering carbon emissions remains a key priority. We also have to look at where we stand as a continent and address our needs first,” he said.