London-headquartered investment advisor Appian Capital Advisory LLP (Appian) aims to buy the majority stake in Rosh Pinah Solar Park (RPSP) in Namibia from Emesco Energy Namibia.
The solar project, Appian said on February 19, will exclusively supply clean energy to Rosh Pinah Zinc Corporation for its mine, Rosh Pinah Zinc in the southwestern African nation under a 15-year offtake agreement.
Through the energy project, the mine will be able to reduce its energy costs by 8% over the next 15 years and carbon emissions by 14,000 yearly.
In terms of the deal, Appian plans to boost the plant's generation from a peak of 5.4 megawatts (MW) to 16.3 MW.
Appian founder and CEO, Michael W. Scherb said:
"The project is another important step for Appian’s clean energy strategy following the development of our solar plant operations in Brazil. I look forward to working with our team to deliver on the opportunity this investment offers the business."
Namibia has some of the most favourable conditions for solar energy production globally, with a high number of annual sunshine hours. It, however relies on almost 3,000 gigawatt hours of imports per year, which accounts for approximately 75% of its annual energy usage thus Appian’s investment in the project and its clean energy supply will support the country’s energy independence.
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