ANIREP advances renewable portfolio with key project milestones

Alpha Namibia Industries Renewable Power (ANIREP) has announced the fulfillment of conditions precedent for acquiring a 45% equity stake in Cerim Luderitz Energy (Pty) Ltd for a total consideration of NAD60,000,000. This acquisition supports the development of a 50 MW wind power plant located south of Lüderitz in the ||Karas Region. The project, expected to commence commercial operations within 18 months, includes the construction of a 40km transmission line and is underpinned by a 25-year Power Purchase Agreement with NamPower.