- Sturdee Energy and Frans Indongo secured $28 million in financing for two 10 MW solar projects in Namibia, for a total of 20 MW.
- The projects will generate 59,320 MWh of renewable energy annually, reducing carbon emissions by 56,354 tons of CO2 equivalent.
- Swedfund and IFU invest $44 million into Sturdee Energy, supporting industrialization and sustainable energy in Southern Africa.
Sturdee Energy and Frans Indongo Group have finalised a USD 28 million financing deal for two solar projects in Namibia. Located in Mariental and Kokerboom, each project will have a 10 MW capacity, totalling 20 MW. The energy produced will meet Namibia’s rising electricity demand and reduce carbon emissions.
RMB Namibia arranged the financing. The solar plants will begin generating power by 2025. Once operational, the projects will produce 59,320 MWh of renewable energy annually, reducing carbon emissions by 56,354 tons of CO2 equivalent (tCO2e).
Both plants will use Tier 1 solar equipment, ensuring high efficiency and reliability. Sturdee Energy and Frans Indongo Group signed long-term power purchase agreements with NamPower, Namibia’s national utility company, guaranteeing the plants’ output will integrate into the grid.
The project attracted international attention, with Swedfund and the Danish Investment Fund for Developing Countries (IFU) providing significant support. These European development finance institutions invested USD 44 million into Sturdee Energy’s broader expansion plans. Their investment reflects growing confidence in African renewable energy projects.
Swedfund and IFU see this investment as a step toward supporting industrialisation in Southern Africa. They also view it as a way to ensure a sustainable energy supply for the region, where rapid urbanisation and population growth increase electricity demand.
Namibia’s vast solar potential makes it an ideal location for such investments. The country receives ample sunlight, making solar power an efficient and sustainable energy solution. These projects represent a strategic move to tap into that potential while reducing reliance on fossil fuels.
The partnership between Sturdee Energy and Frans Indongo Group reflects a broader trend across Africa. Local renewable energy producers are becoming key players in addressing the continent’s energy challenges. By utilising local resources, they are positioning themselves as major contributors to Africa’s clean energy transition.
This collaboration also strengthens Sturdee Energy’s position as a regional leader in renewable energy. The company demonstrates that well-structured projects can attract significant international funding. At the same time, these projects address the pressing need for clean and affordable energy in Namibia and beyond.
For Namibia, these solar projects represent more than just energy ventures. They signal the country’s commitment to sustainable growth and reduced reliance on fossil fuels. With solar energy poised to play a larger role in the country’s energy mix, Namibia positions itself as a leader in Africa’s renewable energy future.
In summary, the partnership between Sturdee Energy and Frans Indongo Group marks a significant step in Namibia’s clean energy journey. The investment, backed by both local and international partners, underscores the importance of renewable energy in meeting the region’s growing electricity needs while reducing carbon emissions.