{"id":23575,"date":"2022-06-28T14:27:54","date_gmt":"2022-06-28T14:27:54","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/nampower-invests-n317m-in-omburu-plant-costs"},"modified":"2022-06-28T14:36:13","modified_gmt":"2022-06-28T14:36:13","slug":"nampower-invests-n317m-in-omburu-plant-costs","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/nampower-invests-n317m-in-omburu-plant-costs","title":{"rendered":"NamPower invests N$317m in Omburu plant costs"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>THE Namibia Power Corporation (NamPower) has invested N$317 million in its Omburu power plant.<\/b><\/p>\n

The 20 megawatt plant, inaugurated last week, was initially projected to cost N$420 million, for both development and construction.<\/p>\n

The project was awarded to Hopsol Africa and Tulive Private Equity Joint Venture in December 2020.<\/p>\n

Speaking at the inauguration on Friday, NamPower managing director Simson Haulofu said although the project was delayed due to the Covid-19 pandemic, it was completed within the set budget.<\/p>\n

He said subsequent to the awarding of the engineering, procurement and construction contract, the Electricity Control Board (ECB) confirmed that NamPower would be permitted to make use of Long Run Marginal Cost (LRMC) funds for the Omburu PV project.<\/p>\n

\u201cThe LMRC funds are funds that the regulator allows NamPower to recover through various tariff applications, and these funds are intended to cushion price shocks.<\/p>\n

\u201cThis means that the project is ultimately customer funded. The overall tariff of the Omburu PV power station is therefore substantially reduced to the benefit of all electricity consumers in Namibia,\u201d he said.<\/p>\n

Haulofu said the Omburu power plant is built to be ready for battery energy storage, as part of the strategy to provide innovative electricity solutions.<\/p>\n

The Namibian and German governments, through the KfW Development Bank, yielded funding of a 20 million euro grant towards the implementation of the first ever utility scale Battery Energy Storage System (Bess) in Namibia and the southern African region, he said.<\/p>\n

\u201cThe grant will go towards the construction of a 58 MW Bess that will be situated at the Omburu substation,\u201d Haulofu said.<\/p>\n

Deputy mines and energy minister Kornelia Shilunga said the project fits in with the aspirations of the country’s Vision 2030.<\/p>\n

She said the Omburu 20 megawatt Solar PV power plant and all the power generation and transmission projects, which form part of NamPower’s five-year strategy, are efforts by the company, in conjunction with the government.<\/p>\n

Shilunga said the project allows the country to reposition itself as it addresses limited generation capacity.<\/p>\n

\u201cThis happens while working towards ensuring that we reach the goals we have set for ourselves as a country, that of reaching the target of sourcing 70% of Namibia’s energy from renewable energy sources by 2030,\u201d Shilunga said.<\/p>\n

Erongo governor Neville Andre added the region is proud to host NamPower’s first fully owned and operated PV power plant.<\/p>\n

Andre said Erongo is one of the regions of the country with the highest economic potential, and it is thus befitting for the plant to be situated there.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. THE Namibia Power Corporation (NamPower) has invested N$317 million in its Omburu power plant. The 20 megawatt plant, inaugurated last week, was initially projected to cost N$420 million, for both development and construction. The project was awarded to Hopsol Africa and Tulive Private Equity Joint Venture in December 2020. 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