Natura Energy Signs Agreement with Globeleq for Solar Plant Development in Namibia

Namibian energy developer Natura Energy has signed an agreement with London-based power company Globeleq to co-develop an 81MW TeraSun Energy Solar PV Power Park initiative in the Erongo region town of Arandis. The project is expected to cost N$1 billion ($70 million) and will sell competitively priced electricity to large power users across Namibia through the national transmission grid.

The TeraSun Energy solar power park is set to be sited in Arandis town and generate over 227,700MWh every year, enough energy to power over 68,000 average Namibian homes.

The TeraSun Energy Solar PV Power Park initiative will operate under the new Modified Single Buyer (MSB) regulatory framework of the Electricity Control Board. This regulation allows independent power producers (IPPs) to sell electricity to large power users locally and internationally across the state-controlled transmission network. Under this regulatory framework, market players are known as Contestable Customers. Eligible Sellers can purchase electricity from IPPs such as TeraSun Energy via bilateral transactions for up to 30% of their annual energy purchases.