Sturdee and Old Mutual acquire majority stake in Namibia’s largest solar PV plant

Old Mutual Investment Group Namibia (OMIGNAM), Namibia’s largest asset manager, has partnered with renewable energy company Sturdee Energy Namibia and Namibian financial services company IJG to acquire a 51% stake in Alten Solar Power (Hardap), the biggest grid-tied solar PV power plant in Namibia. The shareholding, acquired from Alten RE Developments Africa , represents a milestone in expanding Namibia’s secondary market for renewable energy projects. In a joint statement on December 20, Sturdee and Old Mutual emphasised that the transaction aligned institutional investors, including funds co-managed by Old Mutual and IJG, with Namibia’s renewable energy and climate change goals. Among these funds is the Namibian Infrastructure Equity Investment Fund Trust, with the Government Institutions Pension Fund as a main investor.
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Zimbabwe invites power-storage bids to ease supply crisis

Zimbabwe’s power-transmission company has invited bids for companies to install energy-storage units as part of measures to ease crippling energy shortages.

Zimbabwe Electricity Transmission & Distribution Co. wants battery-storage units installed on four sites that will provide at least three hours of 600 MW each in peak hours, it said in a statement in a government notice.

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