SUNREF facility closes
N$589 million disbursed to green projects
The aim of the SUNREF Namibia facility was to facilitate access to affordable green technologies.
The Sustainable Utilisation of Natural Resources and Energy Financing (SUNREF) Facility in Windhoek was officially closed last week after successfully disbursing N$589 million via its three partner banks.
The facility, funded by the French Development Agency (AFD), was operational for four years as a 45-million euro credit line disbursed to Bank Windhoek, First National Bank of Namibia and Nedbank Namibia.
The Environmental Investment Fund of Namibia (EIF) was the host of the technical assistance facility.
The aim of the SUNREF Namibia facility was to facilitate access to affordable green technologies, thereby improving climate-change resilience for Namibian companies, while guaranteeing the development of a low-carbon environmental footprint and contributing to the reduction of the causes of climate change and other environmental disturbances in Namibia.
The executive director of the environment ministry, Teofilus Nghitila, said the programme was an important driver of Namibia’s transition towards a low-carbon and climate-resilient economy.
“With global energy demands on the increase, coupled with the reduction of natural resources and the negative impact of fossil-based energy sources on the environment, the issues of clean, sustainable energy and the importance thereof in economic development and global well-being have become a persistent reality. New business models, specifically energy innovation and the efficient use of resources are key components of mitigating these challenges.”
Beneficiaries
The facility benefited 15 projects across various industries.
Some of the highlights of the project included the Vingerklip Lodge in the Kunene Region, which received N$3.8 million for the installation of a solar power system.
Avagro in the Erongo Region was financed to the tune of N$10 million, while N$111 million went to a 5 MegaWatt solar plant at Rosh Pinah in the//Karas Region.
A N$1 million grant was made available to the Environmental Investment Fund of Namibia to set up a technical assistance facility that oversaw the interactions between project sponsors and banks.
“Key to this grant was the dissemination of technical expertise and capacity building. SUNREF Namibia has afforded opportunities not only to businesses but also to renewable energy, energy management, smart agriculture, and tourism professionals, through new markets, especially in the fields of, sustainable natural resources and environmental protection,” said Nghitila.
He said the project also allowed companies to acquire higher quality equipment, to make cost savings, and to be more competitive through better energy management and improved environmental performance.
The facility, funded by the French Development Agency (AFD), was operational for four years as a 45-million euro credit line disbursed to Bank Windhoek, First National Bank of Namibia and Nedbank Namibia.
The Environmental Investment Fund of Namibia (EIF) was the host of the technical assistance facility.
The aim of the SUNREF Namibia facility was to facilitate access to affordable green technologies, thereby improving climate-change resilience for Namibian companies, while guaranteeing the development of a low-carbon environmental footprint and contributing to the reduction of the causes of climate change and other environmental disturbances in Namibia.
The executive director of the environment ministry, Teofilus Nghitila, said the programme was an important driver of Namibia’s transition towards a low-carbon and climate-resilient economy.
“With global energy demands on the increase, coupled with the reduction of natural resources and the negative impact of fossil-based energy sources on the environment, the issues of clean, sustainable energy and the importance thereof in economic development and global well-being have become a persistent reality. New business models, specifically energy innovation and the efficient use of resources are key components of mitigating these challenges.”
Beneficiaries
The facility benefited 15 projects across various industries.
Some of the highlights of the project included the Vingerklip Lodge in the Kunene Region, which received N$3.8 million for the installation of a solar power system.
Avagro in the Erongo Region was financed to the tune of N$10 million, while N$111 million went to a 5 MegaWatt solar plant at Rosh Pinah in the//Karas Region.
A N$1 million grant was made available to the Environmental Investment Fund of Namibia to set up a technical assistance facility that oversaw the interactions between project sponsors and banks.
“Key to this grant was the dissemination of technical expertise and capacity building. SUNREF Namibia has afforded opportunities not only to businesses but also to renewable energy, energy management, smart agriculture, and tourism professionals, through new markets, especially in the fields of, sustainable natural resources and environmental protection,” said Nghitila.
He said the project also allowed companies to acquire higher quality equipment, to make cost savings, and to be more competitive through better energy management and improved environmental performance.
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