Alten completes financing of Hardap solar project in Namibia

Alten Energias Renovables has completed financing for its $70 million 45.5MWp Alten Hardap solar project in the Mariental municipality of Namibia. Concession grantor state-owned electricity company NamPower has a 19% share in the project, alongside a combined 30% stake from local investors First Place, Mangrove and Talyeni. Standard Bank and Proparco are providing just over $50 million of debt for the scheme. According to local press reports last year, the project is backed by a 25-year power purchase agreement with NamPower at a tariff of N$0.807 per kWh ($0.0623/kWh).

Alten has also announced that South African Inspired Evolution II fund is investing $36 million as a financial partner in Alten's sub-Saharan power projects.