Namibia submits renewable energy projects to Apra despite financing hurdles
Namibia proposed six renewable energy initiatives to the Accelerated Partnership for Renewables for Africa, though policy shortcomings and financing obstacles limit investor participation across member nations. The partnership received 22 total submissions from 10 African countries, with only four reaching final investment approval amid concerns about collateral requirements and elevated project costs.
Presidential Initiative on Climate Change chairman Kandeh Yumkella said guaranteed credit programs could reduce perceived investment risks across the continent and encourage capital flows. The African Guarantee Fund launched the Mission 300 Local Currency Guarantee Facility this year to raise $5 billion for small renewable energy businesses serving communities without grid connections.
International Renewable Energy Agency figures show that 600 million Africans lack access to electricity, requiring $25 billion annually through 2030 to connect all households. Djibouti, Ethiopia, Ghana, Kenya, Mozambique, Namibia, Rwanda, Sierra Leone, Uganda, and Zimbabwe participate in the partnership supported by Denmark, Germany, Japan, the United Arab Emirates, and the United States.
