Italian renewable energy firm Enertronica has acquired a US$7.98 million 6MW PV plant in Namibia, under a 25-year PPA with NamPower, at an initial value of 1.37 Namibian dollars per kWh (US$0.090 per kWh).
The project was carried out through Enertronica acquiring 70% of Sertum Energy Namibia, a special-purposes company in possession of the authorisation securities and the incentive tariff signed with NamPower.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Enertronica itself is responsible for providing, in EPC modality, the plant with an investment that will be financed by local banks, according to the company. The US$7.96 million investment (€7 million) should be achieved by the end of this year. The EPC of the plant will be taken care of by Enertronica’s South African subsidiary, who is currently building two PV plants in South Africa with a combined capacity of around 177MW. The balance of systems, including mono-axial tracking systems, will be provided by the EMS Pty company, an offshoot of the Enertronica Group.
Vito Nardi, Enertronnica CEO said in a statement: “By achieving this operation, Enertronica starts a new business line. Being understood that the group will always focus on the realization on behalf of third parties, in EPC modality, of large photovoltaic power plants, Enertronica, through this acquisition, starts building its own plants that will later be placed on a secondary market. The construction of these plants will have a synergistic effect on all the companies of the group and will allow an increase in the margins associated to the construction phase. Moreover, important gains will be expected during a potential assets sale. Focusing on this subject, it is highly likely that similar opportunities will be seized by Enertronica and by the other Group companies in 2016.”
