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Namibian investment Manager Mergence has acquired a majority stake in the Ejuva solar power plants in Namibia.
- The plants each have a capacity of 5MWp.
- The plants will supply 25.8GWh to the Namibian grid under a 25-year PPA.
Mergence Unlisted Investment Managers Namibia has acquired a 66 per cent majority stake in the Ejuva solar power plants in Namibia. The investment company had previously owned 17 per cent of both power plants and acquired the rest from project developer CIGenCo.
According to Mergence’s portfolio manager, Hileni Nghinaunye, the increased stake will position the company as a regional strategic energy company focused on solving the country’s power shortage challenges.
The Ejuva solar plants were built under the government’s Feed-in Tariff Scheme (REFiT), aiming to attract private investment from independent power producers (IPPs). Ejuva comprises two adjacent solar PVplants, located in Gobabis in the Omaheke region of Namibia. The Ejuva solar PV plants each has a capacity of 5 MWp and can generate 25.8 GWh annually. The plant owners have signed a 25-year power purchase agreements (PPA) with the Namibia State Grid.