British firm Appian Capital buys major stake in Namibia's Rosh Pinah Solar Park

By bne IntelliNews February 21, 2025

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Vitol expands African oil and gas footprint with $1.65bn Eni deal

Vitol, the largest independent energy trader in the world, has agreed to acquire stakes in key oil and gas assets owned by Italian oil supermajor Eni in Côte d’Ivoire and the Republic of ... more

French billionaire Bolloré faces money laundering complaint over African port deals

African civil society groups have filed a legal complaint in France against billionaire Vincent Bolloré, his son Cyrille, and the Bolloré Group, accusing them of money laundering and concealing ... more

Mali’s gold production plunges as Ivory Coast eyes record output

Mali’s industrial gold production fell 23% to 51 tonnes in 2024, marking a sharp decline from 66.5 tonnes in 2023, the country’s Mines Ministry said, as tensions between the government and ... more

Follow Us On

Most Read

  1. Serbian police reportedly use sonic cannon against protesters
    4 days ago
  2. RAGOZIN: What did we die for?
    7 days ago
  3. Putin tells Russia's oligarchs that the return of Western business will not be easy or cheap
    1 day ago
  4. Economic warfare and the rise of Russia's shadow finance
    6 days ago
  5. The EU removes three Russian oligarchs from the latest sanctions list under pressure from Hungary
    6 days ago
  1. Ukraine doesn't have any rare earth metals, and the strategic minerals it does have are not worth trillions of dollars
    25 days ago
  2. US administration 'misinformed about Romanian elections', says presidential candidate Nicusor Dan
    25 days ago
  3. Putin says sanctions have strengthened, not weakened, Russian economy
    27 days ago
  4. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    11 months ago
  5. Kaliningrad becomes an energy island after Baltic States cut Russian grid connection
    1 month ago

Reports

Dismiss