ANIREP acquires majority stake in Aussenkjer
By Hilary Mare
THE Namibian investment company Alpha Namibia Industries Renewable Energy Power (ANIREP) has acquired a majority stake in Aussenkjer Solar One Namibia, a special purpose company which secured the Power Purchase Agreement with Namibia Power Corporation (Pty) Ltd (NamPower) to develop the 20 MWp solar PV Khan IPP from Access Holding Limited.
Through a cautionary Stock Exchange News Service notice this week, ANIREP announced that it has concluded an agreement to purchase a 55 percent shareholding in the company.
“NamPower approved the transfer of controlling shareholding in the Project Company from Access to ANIREP in line with clause 30.1 of the PPA, subject to the Project Company achieving financial closure by no later than 31 October 2021. Shareholders will be updated in due course, and accordingly, shareholders are advised to continue exercising caution when dealing in ANIREP’s shares until a further announcement is made,” the company said adding that ANIREP was created to provide a bridge for Capital Markets into Infrastructural Renewable Energy Projects.
“ANIREP intends to provide investors with solid, predictable, and long-term yielding investments generating a consistent return on equity over the long term,” added the company in the notice.
Last year, ANIREP acquired 70 percent of Hopsol Power Generation (Pty) Ltd (now renamed ANIREP Solar (Pty) Ltd) on the 19th of June 2020 for a consideration of N$88.6 million. ANIREP Solar is a high quality renewable cash yielding 10 MW IPP, with two 5 MW solar PV grid connected utility plants commissioned in 2015 and 2016, underpinned by 25 year Power Purchase Agreements with Nampower and Cenored.
ANIREP also acquired 80 percent in Hopsol Africa (Pty) Ltd on the 1st of April 2020 for a consideration of N$56 million. Hopsol Africa is an EPC and O&M contractor in Namibia, which has installed about 100MW of the 150 MW solar PV in Namibia.
“The sector in which ANIREP operates is considered vital and essential, as energy is a necessity for most aspects of life and business. Namibia is facing a deficit in energy, resulting in importation from Southern African Power Pool. ANIREP will continue to pursue investments into renewable energy plants through acquisitions and EPC constructions with the view to increase shareholder value.
“This is in line with Namibia’s target to become a net-exporter of renewable sourced electricity by 2030. National Integrated Resource Plan estimates that 70 percent or more of the electricity installed capacity will come from renewable sources by 2030,” extends the company in its latest financial outlook.
ANIREP was listed on the Namibia Stock Exchange (NSX) development board in 2018. It has become the second Capital Pool Company (CPC) and the first alternative electricity company on the bourse.