Alten Energías Renovables will develop, execute, and operate a 45.5 megawatt (power) solar power system in Namibia. The $45 million project is expected to have a useful life of 25 years. The development cost is equal to around $990 a kilowatt.

Power produced by the plant is expected to meet 3% of the country's energy needs. In addition to commissioning the project, the state-owned electric utility, NamPower, holds a 19% stake in the project.

Under terms of the deal, the Alten Energías Renovables group will be in charge of completing development of the energy production plant, its financing, managing the construction, and its ongoing operations and maintenance.

The solar photovoltaic power plant will occupy a land area of 100 Ha. The plant will have around 140,000 crystalline silicon panels mounted on solar trackers .

Namibia is highly dependent on imported energy. The new infrastructure is expected to better balance the country's energy mix and reduce its energy dependency on other countries in the region by nearly 5%.

Alten Renewable Energy is an independent power producer in the solar PV energy sector with offices in Spain, the Netherlands, Kenya, Nigeria, Mexico, and Namibia. It has projects underway in Kenya, Namibia, Nigeria, and Mexico, and expanded its activity in Africa to Ethiopia, Malawi, Mozambique, and Senegal. The company has a pipeline of 1 gigawatts of generating capacity in Africa and Latin America at different stages of development