German solar development platform offers cost competitive and climate friendly energy supply to industrial customers in Africa
Hamburg, 07. June 2017. SunEQ, a solar asset development platform based in Germany, announced the signing of the Power Purchase Agreement (PPA) for a 5 MW solar project with Ohorongo Cement, one of the largest energy consumers in Namibia. It is the first major milestone for the sister company of independent German consultancy Suntrace, on its way towards becoming an independent power producer. The groundbreaking ceremony for the 5 MW PV plant took place next to the cement factory on World Environment Day, June 5, and was attended by the Namibian Environmental Commissioner Theofilus Nghitila.
With operation expected to commence by the end of 2017, the photovoltaic plant will be the first utility scale project in Namibia to generate solar power for industrial usage. The power purchase agreement has a 15-year term. “The project will significantly reduce Ohorongo Cement´s electricity expenses and running costs, and also help Namibia to increase the renewable energy portion of the country’s energy mix enormously”, says Matthias Schwara, managing director of SunEQ.
70% renewable energy by 2030
The Namibian government has committed itself to increasing the share of renewable energy in electricity production to 70% by 2030. “A captive power plant relates to the sale of power from a private generator. This business concept is likely to become gradually more popular as the economy’s demand for secure power supply increases, and the costs of solar generated electricity become more competitive”, adds Schwara.
The Hamburg-based company intends to implement a pipeline of solar assets in sub-Saharan Africa. “We provide international know-how to local developers to structure bankable solar projects, and to make investment attractive in what is often a difficult development process”, says Boris Westphal, managing director Suntrace.
Video of project (animation): https://www.youtube.com/watch?v=1BbsuNkXSHo
About SunEQ
SunEQ GmbH was established in 2015 in Hamburg, Germany, as a solar asset development platform and sister company to Suntrace GmbH. SunEQ GmbH is a limited liability company in private ownership, which provides expertise and capital for the development of early stage projects into bankability and investment maturity. With a focus on growth markets such as Latin America and sub-Saharan Africa, SunEQ’s objectives are to build a portfolio of long-term assets as well as a pipeline of solar projects under development.
About Suntrace
Suntrace GmbH was founded in Hamburg in 2009. The independent consultancy specialises in assisting large-scale solar projects in the development and realisation phase in emerging and developing countries. Thanks to its expertise in the business segments Solar Resource, Technology & Engineering and Solar Investment, Suntrace is able to provide energy suppliers, research organisations, development banks, investors, project developers and governments with competent support for the development and construction of their power plants. With branches and cooperation partners in Spain, India, Africa and Latin America, the team covers the whole project life cycle, from the early project development phase through to the commissioning of the plant. Since its foundation, Suntrace has supported power stations in 30 countries, with a total aggregate capacity of more than four gigawatts.
- News
- Press Releases
- Renewable News
- Solar
please download the PDF below.
More from across PES
Pfeiffer Vacuum Introduced its Vacuum and Leak Detection Solutions for the Hydrogen Industry at Hydrogen + Fuel Cells EUROPE
•Mass spectrometer for gas and residual gas analysis •Universal leak detector •Mobile Leak Test Module Hydrogen + Fuel Cells EUROPE/Hannover Messe. Pfeiffer Vacuum introduced state-of-the-art vacuum and leak detection solutions for the hydrogen and fuel cell sector at this year’s Hannover Messe. State-of-the art mass spectrometer for gas and residual gas analysis OmniStar GSD 350… Read more »
Ingeteam exceeds 36% market share in the US wind power sector
The company has to date equipped 55 GW of generators, converters and control systems for the US wind power market with its technology, representing a 36.55% market share. Ingeteam has a production plant in the United States of almost 7,500 sqm with an annual manufacturing capacity of 3.7 GW for the wind power market. … Read more »
APAC Wind Energy Summit Theme Launch: Leading the Global Race to 3xRenewables with Action in the Region
Two industry leaders appointed event ambassadors and will spearhead the development of the conference programme 2 May 2024, Incheon | ‘Action in APAC: Leading the Global Race to 3xRenewables’ will be the official theme for the APAC Wind Energy Summit 2024, from the Global Wind Energy Council (GWEC). The theme was revealed alongside the announcement of… Read more »
SCHMID GROUP CLOSES BUSINESS COMBINATION AND BEGINS TRADING ON THE NASDAQ STOCK EXCHANGE
SCHMID Group and Pegasus Digital Mobility Acquisition Corp. announce the completion of their business combination. As a result, starting April 30, 2024 the existing company’s legal name is SCHMID Group N.V. SCHMID Group N.V. shares will begin trading on the Nasdaq Global Select Market under the ticker symbol “SHMD” SCHMID signed non-redemption and investment agreement… Read more »
2023 Annual Report: LONGi maintains Robust Financial Condition and Strong Risk Resistance Capabilities
2023 Annual Report: LONGi maintains Robust Financial Condition and Strong Risk Resistance Capabilities On April 30, 2024, LONGi Green Energy Technology Co., Ltd. (hereinafter referred to as “LONGi “), a global leader in solar technology, officially released its performance report for the year 2023. The company achieved a revenue of 129.498 billion yuan, continuing to maintain a… Read more »
Glass-glass solar modules from WINAICO PFAS-free
Manufacturer’s declaration on the content of perfluorinated and polyfluorinated alkyl substances Creglingen, 30.04.2024 – WINAICO has issued a manufacturer’s declaration in which the company confirms that its solar modules of the WST-NGX and WST-NGXB series are free from perfluorinated and polyfluorinated chemicals, or PFAS for short. PFAS are specifically used due to their water and… Read more »
Volvo Penta and Danfoss Drives set course on electric future with latest MHO-Co hybrid vessels
New Emerson Pressure Regulator Maximizes Hydrogen-Powered Vehicle Fuel Efficiency, Improves Reliability
Youwind’s Tools for Rapid Offshore Wind Screening adopted by ACCIONA Energía
Electricity networks accelerate potential connection dates of over 200 clean energy projects
Online Magazine Reader
- Solar/PV
- Wind
- China