Namibia Plans $1.76 Billion Energy Push, Eyes Private Capital
An array of solar panels at an energy plant outside Walvis Bay, Namibia.
Photographer: Waldo Swiegers/BloombergNamibia is seeking to raise $411 million in private investment as part of a $1.76 billion energy expansion plan to boost renewable electricity generation and reduce its reliance on costly power imports.
Under a compact to improve energy access announced on Thursday in Windhoek, the capital, the southwest African nation aims to add 454 megawatts of renewable capacity by 2030, lifting the share of renewables in its power mix to 70% from about 54%.