“The guarantee allocated by Proparco was particularly innovative, with part of the risk covered increasing over time, and had thereby allowed the bank to extend the maturity of its financing in local currency. It also illustrated our continued commitment to the development of renewable energies in Africa”, Siby Diabira, Proparco’s representative for Southern Africa and the Indian Ocean, said today at the opening ceremony.
The Hardap power plant is the 1st large-scale power plant in Namibia, a country which suffers from a major power generation deficit but which has a still largely unexploited potential. Namibia consequently imports over 60% of the electricity it consumes, in particular from South Africa.
“By covering nearly 5% of the country's annual energy demand, the Hardap Solar Plant will enable Namibia to reduce its energy dependence and provide access to a low-carbon and affordable source of electricity for more than 70,000 people”, concludes Siby
The #Namibia ’s largest #solarpower plant, supported by Proparco, has just been officially commissioned today 🙌. In 2018, we allocated a EUR 37M guarantee to the bank @SBGroup to cover its loan to finance the construction of this 37 MW photovoltaic farm- https://t.co/BfGJ1rSaQI pic.twitter.com/mckczZtxVf— Proparco (@Proparco) 20 juin 2019