Inceptus Energy, a public-private partnership between Alensy Energy Solutions (Alensy) and Inceptus Holding (Inceptus), the business arm of the University of Namibia (Unam), has secured funding from the Development Bank of Namibia (DBN) and Old Mutual Namibia for a groundbreaking solar project at the university.
This partnership marks a significant milestone in advancing sustainable energy utilisation, with the project boasting an installed solar PV capacity of 3.68 MW along with a 657 kVA peak shaving solution.
Developed by Alensy, the project showcases the fruitful collaboration between the public and private sectors in advancing renewable energy objectives.
“As a leading investor, developer, contractor and ecosystem player in Namibia’s renewable energy sector, we are proud to contribute to this innovative project,” said Norbert Dörgeloh, CEO of Alensy.
“Together with our partners, we are driving positive change and creating a brighter future for Namibia.”
In addition to environmental benefits, the project holds significant economic promise for the country. “Investing in renewable energy projects like this is not only beneficial for the environment but also for our economy,” remarked Christoff Bauernschmitt, Head of Alternative Investments at Old Mutual.
“We are thrilled to be part of this initiative that aligns with our commitment to sustainable development.”
Construction on the project commenced in quarter 2 of 2023 and is on track for completion by the end of the first quarter of 2024. “The financing of this project represents DBN’s concerted focus towards financing green industrialisation and infrastructure development in a sustainable manner,” noted Hellen Amupolo, Head of Investments at DBN.
“By supporting renewable energy initiatives, we are not only fostering job creation but also cementing the groundwork for a green and industrialised Namibia,” she added.
Additionally, IJG played a crucial role in arranging both debt and equity for the transaction. “IJG’s expertise and commitment were instrumental in facilitating the financing and ensuring the project’s successful execution,” added Jakob de Klerk, Managing Director at IJG Capital. “We are proud to support initiatives that drive sustainable development and contribute to Namibia’s energy transition.”
Evaristus Evaristus, CEO of Inceptus, emphasized the project’s role as a testament to the University’s dedication to sustainability, hoping it will serve as an inspiration for similar initiatives elsewhere.
Prof Kenneth Matengu, Unam’s Vice Chancellor, highlighted that Inceptus Energy’s investment in this renewable energy plant not only supports in downsizing the university’s dependence on non-renewable energy but also plays a significant part in reducing energy expenses, thereby generating savings.