The Development Bank of Namibia (DBN) is providing nearly $70 million in financing for several projects, including a solar power plant in the ǁKaras region. The facility will power the Rosh Pinah zinc mine operated by Trevali Mining Corporation.
News on the construction of a solar power plant at the Rosh Pinah mine in Namibia. The project is being financed by the Development Bank of Namibia (DBN). The Namibian state-owned development finance institution has just approved N$1.038 billion (nearly US$70 million) in funding for several projects.
The Rosh Pinah project’s share of the funding will benefit Emerging Markets Energy Services Company (EMESCO), a renewable energy provider based in Tshwane, South Africa. The company has committed to providing the Rosh Pinah zinc mine with a 5.4 MWp solar photovoltaic plant.
EMESCO has signed a 15-year power purchase agreement (PPA) with the mine operator, Rosh Pinah Zinc Corporation (RPZC), owned by Canadian mining company Trevali Mining Corporation. On the ground, the solar power plant will be built by Otesa Energy Projects. RPZC will simply pay electricity bills to EMESCO.
According to the Tshwane, South Africa-based company, the solar plant is expected to meet 30% of the energy needs of the Rosh Pinah mine. According to the Development Bank of Namibia, the project will reduce RPZC’s greenhouse gas emissions by 6% per year at the company level. Also, CO2 emissions from utility-supplied electricity in the ǁKaras region will be reduced by 14,242 tons per year.