Windhoek
Namibia and Germany last Thursday signed a N$600 million intergovernmental agreement that paves the way for the Kreditanstalt für Wiederaufbau (KfW) and the Namibia Power Corporation (NamPower) to cooperate under the Programme for Renewable Energy and Energy Efficiency.
Through the agreement, KfW would avail a loan of up to €45 million to NamPower.
The loan would be used to fund the rehabilitation of the Ruacana Hydro Power Station and other power-related projects, including the expansion of the transmission network. “Given the power supply gap in our country, I am very pleased that this signing event is materialising today, as we have been working hard for this moment to arrive.
This clearly demonstrates the friendly relations that exist between the Republic of Namibia and the Federal Republic of Germany and we are confident that they can be further strengthened and intensified,” said Minister of Finance, Calle Schlettwein during the signing ceremony with German Ambassador to Namibia, Onno Hückmann.
Schlettwein said implementing renewable energy programmes is crucial and in line with the country’s policy.
He noted that the White Paper on Energy Policy identifies renewable energy technologies as contributing to meeting several targets like energy security and sustainability. The paper also identifies the “Programme on the Promotion of the Use of Renewable Energy Sources”, as responsible for directing Namibia’s available resources for maximum social and economic benefit, taking into account long-term environmental concerns while giving priority attention to the country’s development needs.
“On behalf of the Government of the Republic of Namibia, I seize this opportunity to officially register gratitude to the Federal Republic of Germany through KFW not only for its continuous advancing of financial means for our country’s economic and technical development, but also for recognising and ensuring that the cordial relations between the two governments are valued, cherished and maintained,” added Schlettwein.