ANIREP keen to boost local power generation
Import substitution
ANIREP plans to meaningfully take part in Namibia's quest to unshackle itself from heavy reliance on imported power and its need to boost local viable power generation.
Alpha Namibia Industries Renewable Power Limited (ANIREP) is keen to reduce Namibia’s heavy dependence on imported power by boosting local production.These sentiments were shared by the firm’s board chairperson Mac Hangari and managing director Iyaloo Ya Nangolo in their 2021 annual report.
According to Hangari, “ANIREP believes this can be achieved through participation in MSBM and the Namibia/Botswana governments initiative of solar major projects of 2.5GW x 2 as well as the Namibian government driven green hydrogen for export.
In less than two years since being listed on the Namibia Stock Exchange (NSX), ANIREP has already acquired 10.73MWp solar PV and is currently developing an EPC and O M for another 20MWp of renewable power.
“This should give an indication of ANIREP’s strategic intention to acquire and develop energy infrastructure towards making Namibia energy sufficient and meet its climate goals targets,” Hangari pointed.
Ya Nangolo noted that ANIREP will keep developing and acquiring stakes in operating renewable energy infrastructure assets with visible, sustainable long-term cash flows, which can be paid to investors as dividends. These operating assets serve as a platform for ANIREP to ramp up generating capacity by expanding the installed capacity or by directly investing in other infrastructural renewable energy projects, providing equity funding to developers and projects.
Market share
“We are now executing the next stage of our strategy, to increase our renewable energy generation capacity, targeting a market share around 30% of the Namibian Renewable Electricity market,” he said.
ANIREP’s market share grew from 0MWp in 2019 to 10.73MWp as an IPP, being 6.7% out of 150MWp of renewable energy installed in Namibia.
ANIREP is currently involved in the development of 40MWp to grow the market to 190MWp, being the 20MWp Omburu EPC and 20MWp IPP.
ANIREP’s market share in 2021/22 is growing to 55.73MWp, which will be 29% out of 190MWp of renewable energy, Ya Nangolo said.
The sector is set to grow from 150MWp by 210MWp to reach 360MWp in the next 2 to 3 years. ANIREP is aiming to add another 150 MWp to grow market to 510 MWp by 2023.
“ANIREP is also in the process of expanding one of our existing two IPPS by 5MWp from 5MWp to 8MWp on grid solar and 2MWp for input to a 4MWp - 21MWh Battery Energy Storage Systems,” he said.