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February 23, 2021

PRESS RELEASE: STURDEE ENERGY ACQUIRES STAKE IN OPERATIONAL 5MW SOLAR PROJECT IN NAMIBIA

Sturdee Energy acquires minority stake in an operating 5MW solar PV (photovoltaic) plant at Rosh Pinah in Namibia

  • The transaction increases Sturdee Energy’s active project portfolio to Namibia building on projects in South Africa and Botswana
  • Rosh Pinah Project is 5MW solar project selling energy to Nampower under the Namibian REFIT Programme    

[Johannesburg, 19 February 2021] – Sturdee Energy is pleased to announce the closing of a joint transaction with an infrastructure fund managed by Old Mutual Investment Group (Namibia) (Pty) Ltd of the acquisition of the AEE Power Ventures S.L.’s shares in Aloe Investments Number Twenty-Seven (Pty) Ltd.

https://www.oldmutual.com.na/about-old-mutual/news/old-mutual-acquires-a-majority-stake-in-rosh-pinah-5-megawatt-solar-photovoltaic-plant/

The Rosh Pinah acquisition adds operational capacity to Sturdee’s other development opportunities in Namibia.

The project will allow Sturdee to grow its presence in Namibia through sharing its strong track record of providing technical asset management services to renewable projects and increase its local capacity.     

James White and Andrew Johnson Sturdee’s Executive Directors agreed that “it’s a great acquisition for Sturdee.”  “It really demonstrates the determination and agility of the team to deliver through numerous challenges including COVID”.

Sturdee looks forward to this being the first of a number of transactions with the team at Old Mutual Investment Group in Namibia.

Andrew mentioned that Namibia is a key strategic focus of the Company and they are pursuing other opportunities for development, acquisition and asset management in the Country. 

James highlighted how the project fits perfectly into Sturdee’s strategy of investing in African projects at any stage from development, construction or operations. 

About Sturdee Energy – Sturdee Energy is an independent power producer that develops, owns, and operates renewable energy projects in Sub-Saharan Africa. Sturdee currently has a renewable energy track record of 591MW of grid tied renewable energy projects.

The Company’s vision is to deliver economic growth and socio-economic development to Africa through the supply of reliable renewable energy.