SB finances multi-million dollar Solar Power Plant
HopSol Power Generation (Pty) Ltd 5.6 MW Solar Photovoltaic (PV) plant commissioned in Otjiwarongo, Namibia in November 2015
Last month, Standard Bank signed a N$170-million term loan with HopSol Power Generation, the leader in Solar PV installations and operation in the country.
This agreement has made SB the first commercial bank in Namibia to finance a multi-million dollar solar power generation.
SB’s Head of Commercial Property Finance Manus Grobler, emphasised the Bank’s commitment to the renewable energy initiative in Namibia.
“We are committed to sustainability through growth and developing Namibia’s natural resources by supporting renewable power initiatives,” he said.
The Chief Executive Officer of HopSol Power Generation, Dr Robert Hopperdietzel said that there would be more solar energy development across the country.
“We are looking for a long term partnership of N$800-million finance over a period of 3 to 4 years for our solar plants in the country. Commissioning for this facility already started during the last week of November 2015 and the project was already up and running by the 24th of that month. So there is a lot more business we can do together,” he said.