Namibia’s plans to build its biggest power plant since independence are in full swing, says Hennie Steyn, managing director of Xaris – the company that is managing the Walvis Bay Power Plant Project on behalf of the country’s power parastatal, NamPower.
“With a bankable Power Purchase Agreement, this project will be entirely privately funded and will provide affordable power to Namibia to address the growing energy deficit – driven by Namibia’s current and projected high economic growth rates,” says Steyn.
In terms of the Power Purchase Agreement (PPA) between NamPower and Xaris, NamPower will buy power on agreed terms from the Walvis Bay Power Plant.
According to Steyn, the project will include the construction of a power generation plant as well as the infrastructure to import liquefied natural gas (LNG) into Namibia.
To date Xaris and its partners have invested in excess of US$30 million in the project.
