Namibia’s ANIREP takes control of solar IPP, EPC businesses

Namibian investor Alpha Namibia Industries Renewable Energy Power Limited reportedly has finalized the procurement of majority stakes in two solar photovoltaic (PV) sector companies.

The company, known as ANIREP has bought a 70 per cent interest in Hopsol Power Generation (Pty) Ltd, which an independent power producer (IPP) holding two 5-MW PV parks in Namibia. The plants were earlier commissioned in 2015 and 2016 and relish 25-year power purchase agreements (PPAs), according to a stock market filing.

The investor further stated that it had closed the acquisition of an 80% stake in Hopsol Africa (Pty) Ltd effective on April 1. This firm is an engineering, procurement and construction (EPC) and operation and maintenance (O&M) contractor in Namibia with 100 MW of solar PV installations in the country.

ANIREP mentioned it paid the equity consideration of NAD 88.6 million (USD 5.1m/EUR 4.5m) for the IPP and NAD 56 million for Hopsol Africa in cash using proceeds from the Namibian stock exchange listing.

ANIREP Managing Director Iyaloo Nangolo further added in his statement that, “Concluding these transactions delivers ANIREP a sustainable platform from which we will pursue an expansion of the existing grid connected 10 MW solar PV capacity”.