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Sturdee Energy and Frans Indongo finance two 20 MW solar projects in Namibia

Sturdee Energy and Frans Indongo finalize a USD 28 million financing for two 10 MW solar projects in Namibia. The energy produced will reduce carbon emissions and address the growing demand for electricity.

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Sturdee Energy, an independent power producer, has partnered with the Frans Indongo Group to develop two solar projects in Namibia. These projects, located in Mariental and Kokerboom, will each offer a capacity of 10 MW, totaling 20 MW. The initiative represents an investment of USD 27.98 million, orchestrated by RMB Namibia, which acted as the lead arranger.

The two partners aim to fully exploit the solar energy potential in the region. By utilizing Tier 1 solar equipment and signing long-term power purchase agreements with NamPower, these projects will generate 59,320 MWh of renewable energy annually starting in 2025. This production will result in a significant reduction of carbon emissions, estimated at 56,354 tons of CO2 equivalent (tCO2e).

European investments to support growth

The project also benefits from financial support from two European institutions, Swedfund and the Danish Investment Fund for Developing Countries (IFU). These organizations have jointly invested USD 44 million in the growth of Sturdee Energy. This financial contribution reflects growing confidence among European institutions in African renewable energy players.

Swedfund and IFU view this initiative as a way to support industrialization and ensure sustainable energy supply in Southern Africa. For Namibia, a country with ideal conditions for solar energy, this investment is strategic for meeting the growing energy demand caused by demographics and urbanization.

A model for clean energy in Southern Africa

These projects illustrate a paradigm shift in Africa: local renewable energy producers are becoming key players in addressing energy challenges. Namibia, with its abundant solar resources, offers an opportunity for sustainable growth while reducing its dependence on fossil fuels.

Through this partnership, Sturdee Energy strengthens its position as a regional leader in clean energy. The company demonstrates that well-structured projects can attract international investment while addressing pressing local needs.

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