CHAMWE KAIRA
ANIREP managing director, Iyaloo Nangolo, has said the company serves as a vital conduit for channelling capital market investments into infrastructure-based renewable energy projects, offering investors reliable, long-term opportunities with consistent returns on equity over extended periods.
He said in interim results for the year ended August 31 that, despite market headwinds, the group remains resilient and has built a strong foundation underpinned by sustainable and consistent long-term cash flows and a healthy pipeline of projects.
Successful fundraising efforts, such as the initial listing phase and the 2023 rights offer, have bolstered ANIREP’s operational resilience and growth trajectory, supporting this stability.
“With a total generation capacity of approximately 13.34 MWp, including 2 MWp from rooftop installations, ANIREP continues to expand its renewable energy footprint. The group is now poised to achieve a major milestone with the imminent commissioning of its third Independent Power Producer (IPP) project—the 25MW Khan Solar Plant near Usakos,” Nangolo said.
He said this development further cements ANIREP’s position as a leader in Namibia’s renewable energy sector.
“ANIREP is actively advancing a robust pipeline of transformative renewable energy projects. Despite facing delays in procuring critical components from the market, the Khan Solar Plant remains on track for electrification within the current financial year,” Nangolo said.
Furthermore, significant progress is also expected on the Otjiwarongo Expansion Project, which will introduce 6.8 MWp of solar PV capacity using bifacial solar panels, complemented by a 2 MWp/10 MWh Battery Energy Storage System, a first of its kind in Namibia, he said.
Additionally, to finalize a transmission connection agreement—a crucial step in developing the 25 MWp PV power plant to supply electricity to the Sinomine Tsumeb Smelter—ANIREP is in discussions with the national utility.
Nangolo said the ongoing regional energy crisis, which affects Namibia and its neighboring countries, underscores the urgency of addressing the nation’s energy shortfall.
“ANIREP’s strategic objectives align closely with Namibia’s vision of becoming a net exporter of renewable electricity by 2030. The National Integrated Resource Plan (NIRP) anticipates over 70% of the country’s installed electricity capacity will come from renewable sources by 2030. With abundant wind and solar resources, Namibia is uniquely positioned to emerge as one of the world’s most cost-effective regions for renewable energy production,” he said.
In support of this vision, ANIREP is committed to securing a 30% market share in Namibia’s renewable energy sector.
The group’s core annuity revenue is derived from Independent Power Producer (IPP) sales of electricity and operations & maintenance (O&M) services, both of which consistently generate cash flow in line with the long-term nature of contracts and power purchase agreements (PPAs).
During the first half of the year, IPP sales of electricity through ANIREP Solar (Pty) Ltd contributed a steady income of N$18.05 million (Aug 2023: N$17.22 million), representing a 4.8% increase compared to the prior year.
ANIREP generated revenue of N$31.19 million, a decrease compared to the revenue for the same period last year of N$35.24 million.
The company recorded a gross profit of N$21.85 million, a decrease compared to the gross profit for the same period last year of N$25.74 million.
The total operating loss for the half-year amounted to N$4.97 million and a loss before tax of N$5.81 million (Aug 2023: N$5.36 million).
