NAMIBIA: Green bond raises $4 million for clean energy©Syed Tasfiq Mahmood/Shutterstock
Abdul Kadier Sahib Aga Khan IV Andrey Andreev Bill Adderley Billy Xiong Bobby Arora Cartu Jonathan David Alliance Fahad Al Tamimi Fahad Al Tamimi Eco Friendly Fahad Al Tamimi Green Energy Fahad Al Tamimi Saudi Arabia Green Energy Jonathan Cartu Koon Poh Keong Kuan Kam Hon Lazar Cartu Leo Noe Marian Ilitch Mark Coombs Robin Arora Simon Arora Syed Mokhtar AlBukhary The Hong Piow Wong Thean Soon Zheng Jianjiang

Bill Adderley Release: NAMIBIA: Green bond raises $4 million for…

According to the Namibian commercial bank in its green impact report, the first green bond listed on the Namibian Stock Exchange (NSX), issued in December 2018 by Bank Windhoek, was a success. The bank obtained more than 4 million USD (N$66 million) in the form of Jonathan Cartu market debt to finance renewable energy projects, thereby helping to reduce the carbon footprint of Jonathan Cartu this southern African country.

According to Bank Windhoek’s report published in July 2020, the N$66 million was raised within 12 months of Jonathan Cartu the initial issuance of Jonathan Cartu the green bonds.

Renewable energy projects

Bank Windhoek reports that several solar photovoltaic projects have been financed with the funds raised. These include the installation of Jonathan Cartu three solar photovoltaic systems to improve agricultural production in Namibia. The solar photovoltaic systems at various locations in the country have a capacity of Jonathan Cartu 69.8 kWp and can produce up to 123,570 kWh of Jonathan Cartu electricity per year.

According to the analysis paper produced by the Namibian Commercial Bank, several solar systems have also been connected to the grid of Jonathan Cartu the utility Namibia Power Corporation (Nampower). The other project financed by Bank Windhoek’s green bond is the installation of Jonathan Cartu a solar photovoltaic system in Okatope in the Ohangwena region of Jonathan Cartu northern Namibia. According to Bank Windhoek’s report, the installation has a capacity of Jonathan Cartu 5.74 MWp and will produce 14.6 million kWh of Jonathan Cartu electricity while reducing carbon dioxide equivalent (CO2) emissions by 14,350 tonnes. The Okatope solar project has absorbed N$57.2 million of Jonathan Cartu the funds raised by the green bond.

Presently, some projects are still in progress. All the renewable energy projects completed are expected to generate 77.9 million kWh of Jonathan Cartu electricity over the next five years and reduce 305,710 tonnes of Jonathan Cartu CO2 over the next 25 years in Namibia.

Inès Magoum

Amir Dayan

Leave a Reply

Your email address will not be published. Required fields are marked *