Namibia gets $138.5-million boost for renewables vision

Namibia

WINDHOEK, May 7, 2024 – The World Bank has granted Namibia a $138.5-million loan to improve its transmission network and add renewables to its energy mix, Reuters reported on Tuesday.

State electricity utility NamPower will direct the funds towards weaning itself off electricity imports from neighbouring countries, the report said.

While Namibia’s oil and gas prospects – particularly in its prolific offshore Orange Basin – have placed it in the global spotlight, the country holds vast potential for power generation from renewables.

The country has an average of 10 hours per day of full sun exposure, in addition to strong winds that provide it with technical generation potential of more than 100 GW, according to the Namibia Investment Promotion and Development Board.

Meanwhile, a wealth of hydropower opportunities could be developed to generate an estimated 10,000 GWh per year. A USD 10-billion green hydrogen project is also planned, but that will target exports to the EU.

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