Bank Windhoek, in conjunction with Enertronica Group, recently financed the construction of the Trekkopje Solar Project, in the Erongo region as part of the development of solar parks in Namibia.
Built by Enertronica Group, a multinational industrial company specialising in renewable energy, the project incurred construction costs of N$137 million, excluding development costs.
The Trekkopje's Solar Project construction was completed and operational in August 2018.
The site was chosen for its potential to supply power for industrial, farming and storage purposes without posing a threat to the environment and its community. The project has a life span of 25 years which is anticipated to be even longer after it is revamped.
Although the output from the plant is dedicated to feeding into the NamPower grid, Enertronica Group has committed to building three smaller solar technology facilities to serve schools of the surrounding communities. In terms of job creation, 30 community members were employed during construction. Once completed, an average of five people are permanently employed to ensure the proper maintenance of the plant.
“The project has a combined output of 5, 78 Megawatts. But we expect it to be a bit higher because of the high performance of the technology adopted for this specific plant. This is the first plant where Enertronica Group's patented trackers are mounted on the structures which means that the modules will follow the sun during the day optimizing the already high irradiation," said Dr Maurizio Decinti, lead consultant to the project.
“Getting to know Bank Windhoek during this process has been an exciting experience. Together we have laid the foundation for a long lasting relationship and hope to get more opportunities to implement similar transactions of this nature in the country," said Decinti.
Decinti concluded that the future is in renewable energy. “This is even truer today when the cost of renewable is basically similar to the traditional energy, we have basically achieved the so called 'Green Parity'," he said.
“We recognise that optimising renewable energy opportunities is critical for the development of Namibia and as such, we fully embraced the opportunity to finance these projects. Together with partnerships such as this one, we can make an impact and prove that things can be done in cleaner and environmentally friendly ways," said Lukas Nanyemba, Executive Officer for Corporate and Institutional Banking at Bank Windhoek.