CHAMWE KAIRA
Alpha Namibia Industries Renewable Power Limited (ANIREP) has vision to secure a 30 percent market share in the renewable energy sector.
During the first half, the IPP Sale of Electricity through ANIREP Solar (Pty) Ltd consistently generated a steady income of N$17.2 million, aligning with the preceding period, attributable to Power Purchase Agreements (PPAs).
The PPA with NamPower remains effective until 2040, while the PPA with CENORED was extended in December 2022 for an additional year, now spanning until 2042. This extension accommodates a 120 percent capacity increase and volumes, expanding the current capacity from 5MW to 11MW, a development slated to commence in 2024.
ANIREP generated revenue of N$35 million for the period ended 31 August 2023, compared to N$50.1 million in the same period last year.
The company said in interim results for the period ended 31 August that the gross profit of N$25.7 million was a decrease compared to the same period last year of N$41.3 million.
It said the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of N$8.4 million shows a 78 percent decrease compared to half year 2022 EBITDA of N$37.7 million.
The total operating profit achieved for the year amounts to N$3.7 million. The company reported a loss before tax of N$5.4 million compared to N$26.6 million in the same period last year.
The company said basic earnings per share were minus 27 cents down from 74 cents for the half year half ended 31 August 2022.
ANIREP Managing Director Iyaloo Nangolo said ANIREP is a channel for capital markets to invest in infrastructure renewable energy projects, providing investors with reliable, long-term investments that yield consistent returns on equity over prolonged periods.
Currently, the company owns a total generation capacity of approximately 13.34MWp. ANIREP’s ongoing projects, include the construction of a 25MWp PV Plant in Khan, the installation of 6.8 MWp of Solar PV and a 3 MWp/9MWh battery energy storage system in Otjiwarongo, and the establishment of a 25MWp PV power plant to supply power to Dundee Precious Metals.
