NamPower is taking the plunge. $ 575.8 million in electricity production and transmission in three years, and it is renewable energies that should be the big winners in this program. Ultimately, it is a question of putting an end to the imports of electricity which weigh on the company.
In Namibia, the national power company NamPower will invest 10 billion Namibian dollars ($ 575.8 million) in power generation and transmission projects over the next three years. This information was communicated by the Minister of Energy, Ipumbu Shiimi who clarified that this investment will allow the supply of reliable and affordable energy as well as an improvement of the balance of payment of the electric company.
“NamPower is making investments in power generation and transmission, particularly in solar and wind power plants over the next five years. Approximately $ 575 million will have to be invested over the next three years in this framework, ” said the Minister during the presentation of his budget to Parliament.
The sector has implemented several reforms in order to be more attractive to investments. Among other measures, the structuring of the 70 electrical distributors active in the country into 5 regional electrical distribution companies and the establishment of transparent procedures for setting tariffs.
The country currently imports more than 60% of its electricity consumption from its neighbors.
Source: Agence Ecofin