Africa-Press – Namibia. Alpha Namibia Industries Renewable Power Limited (Anirep) has announced the conclusion of a conditional binding offer to acquire a 45% equity stake in Cerim Lüderitz Energy for N$60 million.
According to a statement issued by the company, Anirep will purchase 30% from Allied Worldwide Trading Limited and 15% from Riminii Investment.
The acquisition is subject to fulfillment of several conditions including approval from the Namibia Power Corporation (NamPower) and the Electricity Control Board
Additionally, there has to be a completion of satisfactory due diligence by Anirep, including execution of definitive agreements.
Anirep managing director Iyaloo Nangolo says the acquisition will cause expansion in the wind energy sector and help complete existing solar initiatives.
“With the Cerim project, Anirep’s renewable energy portfolio will exceed 90 MWp by the project’s commercial operation date, addressing Namibia’s energy challenges and contributing to national renewable energy targets,” says Nangolo.
According to the media release, the project aligns with the objectives outlined in the Namibia Integrated Resource Plan and the Fifth National Development Plan aiming to increase installed capacity to 755MW and achieve 70% renewable energy sourcing by 2030.
Cerim Lüderitz Energy is developing a 50MW wind power plant south of Lüderitz.
The project includes the development of 743 hectares of land into a power-generating facility and the construction of a 40km, 132kV transmission line to evacuate power to the Namib substation.
“The plant is expected to commence operations by July, following the completion of construction within 27 months from the signing of the power purchase agreement (PPA) with NamPower, the national electricity utility,” says the statement.
According to Anirep, the project is supported by a 25-year PPA, environmental clearance certificate, and a transmission connection agreement.
This acquisition is classified as a category three transaction under the Namibia Securities Exchange listing requirements, as the transaction value is less than 10% of Anirep’s market capitalisation.
Anirep currently has a N$5-billion green bond listed in 2024.
“This capital enables the company to fund the Cerim acquisition and other renewable energy projects, reinforcing its position as a leading independent power producer in the region,” reads the statement.
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