KfW Development Bank funds Namibia’s largest solar power plant with a NAD 1.3 billion loan. (Photo Credit: NamPower)
Namibia’s national power utility company, NamPower has signed a loan agreement with the German Development Cooperation, via KfW Development Bank, for NAD 1.3 billion to finance Namibia’s largest solar power project. The 100 MW PV solar plant will be located near Rosh Pinah in southern Namibia, benefiting from the region’s optimal solar conditions. The proximity to the Namibian power grid eliminates the need for additional infrastructure investment. The loan will cover 80% of the project’s costs, with NamPower funding the remaining 20%, which enabled the plant’s capacity to increase from 70 MW to 100 MW.
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