Government, through the Solar Revolving Fund (SRF), has so far financed a total of 5,628 solar energy systems countrywide amounting to N$167.8 million.
Director of Energy Funds in the Ministry of Industries, Mines and Energy, Anna Libana, said this achievement underscores the power of financial innovation in driving energy transition and empowering communities. She was speaking during the Solar Week in Windhoek on 26 February.
“To ensure economic development and respond to the plight of the people living in rural areas, access to electricity is no longer a luxury service, it has become basic service that ought to be found in every village, every home, and every farm in every part of Namibia. Hence, promotion and increase access to rural electrification through the use of renewable energy technologies is vital for Namibia to achieve national target of energy access,” said Libana.
The benefits of solar energy, the Director said, extend far beyond electricity generation.
“It is a catalyst for job creation, economic diversification, and technological advancement. By investing in solar power, we are investing in the future of our youth, empowering entrepreneurs, and strengthening our national economy,” Libana said.
She said Namibia stands at the peak of a renewable energy revolution.
“Blessed with one of the highest solar irradiance levels in the world, we have an unprecedented opportunity to lead the way in harnessing the power of the sun,” said Libana.
Namibia, through the Harambee Prosperity Plan II, aims to electrify about 6,000 rural and 13,000 peri urban households. In the effort to increase rural electrification, the Ministry of Industries, Mines and Energy, through the Solar Revolving Fund, provides subsidised loans to individuals, farmers and businesses for the purchase of renewable energy technologies (RETs) such as Solar Home Systems (SHS), Photovoltaic Pumps (PvP) and Solar Water Heaters (SWH).
Government has recognised that renewable energy systems, such as those used for decentralised electricity generation and off-grid applications, have the potential to contribute to reaching the goal of universal access of electricity in Namibia.
And this can be achieved through the installation and supply of high-quality systems and a workforce of well-trained installers.
The SRF was established in 1996 as a nationwide credit facility to promote the use of solar energy technologies in rural areas, particularly for off-grid communities. The SRF operates on an ownership model where applicants can obtain loans to purchase renewable energy products. It is an element of the Off-Grid Energisation Master Plan for Namibia (OGEMP) whose objective is to provide access to suitable renewable energy technologies to off-grid areas.
Under this model, applicants must first obtain a detailed quotation from an accredited energy service provider for the supply and installation of the technology, and then pay an upfront deposit to secure a loan from the Ministry. This is designed to give borrowers a greater sense of ownership of the solar equipment they purchase.
