Namibia will become the first country in the world to generate carbon credits under a project by the Nopal Renewable Energy Corporation.
Observer Money asked Nicole Maske, a partner at Nopal Renewable Energy Corporation on how the company will progress with its plans.
The company plans to invest N$1.8 billion in a large-scale nopal cactus farm in Maltahöhe, aiming to establish Namibia as a leader in carbon sequestration through agriculture.
Observer Money (OM): How will Nopal Renewable Energy raise N$1.8 billion needed for the next three years needed to invest in the cactus farm at Maltahöhe? Will this money be raised with financial institutions in Namibia or abroad?
Nicole Maske (NM): Nopal Renewable Energy Corporation is raising the required N$1.8 billion through a combination of equity investment and project financing based on off-take agreements for bioenergy such as renewable liquefied natural gas (RLNG) or nature-based carbon credits. It has an off-take offer from a Namibian company, yet to be announced for RLNG and LCO2 and seeking additional agreements which will allow us to expand further. We will raise money both internationally and locally.
OM: This is the first project in Africa by Nopal, why did the company choose Namibia?
NM: I was instrumental in convincing Nopal Renewable Energy Corporation to select Namibia as the ideal location to establish its first farm in Africa. My argument for choosing Namibia is that the country has the ideal environment for our nopal cactus. The vast arid and semi-arid lands are unsuitable for traditional crops but perfect for cultivating nopal cactus, a drought-resistant plant. Namibia also has a friendly investment climate and is easy to do business with the right local partners.
I also raised awareness about Namibia’s commitment to renewable energy, green hydrogen, and carbon trading, making it a supportive environment for sustainable projects. There is strong interest from local authorities, international development partners, and carbon markets in supporting initiatives that promote sustainable agriculture, renewable bioenergy, carbon sequestration, and rural economic development.
OM: Give us a brief description of the project?
The Nopal Renewable Energy Corporation project in Maltahöhe involves the establishing of a large-Scale Nopal Cactus Farm, spanning thousands of hectares. This farm will cultivate nopal cactus for bioenergy production, carbon sequestration, and livestock fodder.
In terms of bioenergy production, the harvested cactus will be processed into biogas and bioenergy such as electricity or RLNG, offering a sustainable energy alternative.
When it comes to Carbon Capture and Trading, the farm will generate high-integrity carbon credits by sequestering COâ‚‚ through regenerative agriculture, with these credits being sold to international buyers.
For land restoration, the project will rehabilitate degraded land, improving soil health and preventing desertification. The initiative will provide employment opportunities and economic benefits to local communities.
OM: How many people will be employed by the project?
NM: In the next few years this project will generate thousands of direct jobs for Namibians, including roles in farming and land rehabilitation, bioenergy processing and logistics, carbon credit verification and monitoring technical and administrative support. Additionally, thousands of indirect jobs will be created through local supply chains, transport, and services, benefiting surrounding communities.
OM: How does this project benefit Namibia and what is the importance of carbon trading?
NM: We are contributing to Namibia’s energy transition and green hydrogen strategy. We are also creating local employment and creating new income streams, especially in rural areas. In addition, we are restoring degraded land, improving food security and resilience against climate change and supporting the livestock industry by providing nutritious, water-rich fodder during droughts. On carbon trading, this allows Namibia to monetize its environmental assets by selling carbon credits to global companies seeking to offset their emissions. It positions Namibia as a leader in carbon sequestration through innovative land-use practices and generates foreign investment and revenue, supporting climate resilience projects.
OM: How much can Namibia earn from carbon trading?
NM: The potential earnings from carbon trading depend on the scale of projects and the market price of carbon credits. The Nopal project alone could generate millions of dollars annually in carbon credit revenue, based on sequestration rates and market prices, which continue to rise significantly as we approach 2030, a target date to meet net-zero goals established under international agreements like the Paris Accord. If Namibia expands carbon farming and reforestation efforts, it could unlock billions in revenue from global carbon markets in the coming decades.
 OM: Anything else that you may wish to add?
NM: This project positions Namibia as a pioneer in sustainable bioenergy and carbon farming, setting an example for Africa. The model can be replicated across arid regions, unlocking new economic opportunities in sustainable land use. Nopal Renewable Energy Corporation is actively engaging with government, industry partners, and investors to maximise impact and ensure long-term success.
