Alten Africa has reached financial close on a 45.5MW solar plant in the Hardap region of Namibia.
The $50m funding will come from South African Standard Bank and Proparco, a subsidiary of the French development agency.
The project will be located on 100 hectares of land and feature about 140,000 crystalline silicon panels mounted on solar trackers.
It is scheduled to come online in September, when it will supply 112 gigawatt-hours of electricity a year to the Namibian national grid.
Alten Africa, which is a subsidiary of Alten Energías Renovables, holds a 51% stake in the scheme, with Namibian state electricity company NamPower owning a 19% interest and local investors First Place, Mangrove and Talyeni having the remaining 30%.
Alten Energías Renovables executive president Juan Laso said: “We expect to have excellent results over the next few years, thanks to the support of Inspired Evolution, which gives Alten Africa a specialist partner with a team that has experience in the regional market and a track record of close to 1GW, in clean energy infrastructure investments.”
Investor Inspired Evolution signed a $36m deal with Alten Africa in February to help develop, construct and operate utility-scale solar plants in sub-Saharan Africa.
Image: Alten
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