The REHO Solar PV Project | Waldt Farming and Energy (Pty) Ltd ("Waldt")

Company Name/Description

Waldt Farming and Energy (Pty) Ltd ("Waldt")

Countries of Operation

Namibia

Ownership of Company

Namibia (Privately Owned)

Number of years since incorporated

Upon request

Project Pitch

Waldt Farming and Energy (Pty) Ltd is developing a utility-scale solar photovoltaic (PV) power project in Namibia designed to strengthen domestic electricity supply and support the country’s transition toward renewable energy.

The project will begin with a 20 MW Phase 1 solar photovoltaic facility near Rehoboth (with potential expansion to 40 MW), located approximately 90 km south of Windhoek, Namibia’s primary electricity demand center. Phase 1 is implemented in tranches to de-risk investor capital, from development and approvals through construction and commissioning. Electricity generated will be supplied to the national grid under a long-term Power Purchase Agreement (PPA).

The project is being developed in response to Namibia’s structural electricity supply deficit, where domestic generation historically covers only a portion of national demand, while the remainder is imported from neighboring countries.

Phase 1 is designed with identified land and site conditions that support future expansion of renewable generation capacity. With significant potential to reduce CO₂ emissions, create local employment, and align with national renewable energy targets, Waldt presents a scalable and bankable investment opportunity in Namibia’s growing solar sector.

Team

Upon request

Type of Project

Private project

Stage

Development Stage – Pre-Construction (Project Structuring and Investor Engagement)

Employment

• Temporary: 150
• Permanent: 20
• Seasonal: 40

Annual Revenue (in EUR)

Upon request

Total Project CAPEX (N$)

N$338M

Source of Current Income and Use of Capital:

Project currently in the development phase; capital will be used to advance approvals, secure permits, complete environmental assessments, and prepare for EPC and construction readiness.

Financing needs (N$)

N$350M

Type of financing needed

Upon request

The Company is looking for:

Equity and Debt Financing

Planned allocation of fundraising capital

• Tranche 1 – Land Acquisition, Development & Approvals (~15% CAPEX): Permits, environmental assessment, engineering studies, and grid connection planning (pending LOI)
• Tranche 2 – EPC & Construction (~80% CAPEX): Procurement of PV modules, inverters, mounting structures, construction of plant and infrastructure, grid connection
• Tranche 3 – Commissioning & Operational Readiness (~5% CAPEX): Testing, commissioning, and initial operation, including operational / working capital buffer [Note: Remaining N$15M of the total N$350M is allocated to annual OPEX once the facility is commissioned.]

Feasibility/Due Diligence

• Technical: Preliminary assessments completed; full due diligence to be finalized upon receipt of investor Letter of Interest (LOI).
• Financial: Preliminary financial modelling completed; detailed projections available post-LOI.
• Environmental: Environmental assessment prepared; formal submission to proceed once LOI is secured.