ANIREP readies N$5 billion green bond


The Namibia Stock Exchange listed renewable energy company, Alpha Namibia Industries Renewable Power Limited (ANIREP) is set to launch its green bond on the back of a favorable rating by S&P Global Ratings.

The company’s generation mix is currently 100% solar and most of the proceeds under the framework will be used to finance renewable energy, with a focus on solar.

The company is in the process of registering a N$5 billion Domestic Medium Term Note Programme with the Namibia Stock Exchange

The debut issue is expected to be launched in the second quarter of this year, with Standard Bank as the sole arranger and joint sustainability company, alongside the IFC.

“We are excited that ANIREP is now set to launch its debut green bond, to add more fire power to complete the construction and development of further renewable energy projects. We have positioned ANIREP to play a pivotal role, as Namibia endeavors to attain self-sufficiency in generating its own electricity. We intend developing more renewable energy generation, to increase ANIREP’s market share of renewable energy generation in the country, to our target of 30% of the forecasted 760MW in Namibia,” said managing director and group CEO, Iyaloo ya Nangolo.

He said it is imperative that the company put in place the building blocks to provide enough energy for Namibians and to power the country’s commerce, industry and mining.

The company believes that it has created a solid platform with predictable and sustainable long-term cash flows, and recently raised further firepower in the form of equity of N$437 million, by way of a rights issue.

“We are pleased with ANIREP’s progress since our listing as a CPC in September 2019. ANIREP now has an asset base of almost N$1 billion and generates sustainable long term cash flows from its long term power purchase agreements.”

Alpha initiated the Green Bond certification process in 2023, with the support of the International Finance Corporation.

Alpha was listed on the NSX in 2019 and is now included in the FTSE NSX Index Series as the only alternative electricity utility entity on the main board. Alpha provides a bridge for capital markets into utility-scale renewable energy capabilities.

At the moment, Namibia imports most of the electricity it uses from Southern Africa Power Pool, whilst Namibia has access to some of the richest solar radiation and wind resources in the world.

Related Posts