- DBN has agreed to finance the development of a 5.4MW solar system in Namibia.
- The plant is expected to provide power to the Rosh Pinah zinc and lead mine under a 15 year PPA.
State-owned Development Bank of Namibia (DBN) has announced that it has financed the construction of a 5.4MW solar plant in the Rosh Pinah zinc and lead mine in the Karas Region of southern Namibia. DBN noted that it had provided an undisclosed amount. The bank also did not state how it plans to structure the financing nor who the off-taker of the power generated is. However, DBN’s statement shows that the solar project will cost about NA$1.04 billion (US$67.5 million).
The Rosh Pinah Solar Park will be developed by the local subsidiary of South African renewables company Emesco Energy. Windhoek-based civil engineering firm Otesa Energy Projects will serve as the EPC contractor. According to DBN, both companies will own and operate the power plant, although Otesa will hold a majority stake. The DBN said the Rosh Pinah park is the second project financed under its climate adaptation facility.