Stimulus Invests in Khomas Solar Saver (PTY) Limited
Stimulus Investments Limited announced on Friday, 10 February 2017, that it has successfully acquired a majority stake in recently established company, Khomas Solar Saver (Pty) Limited, a renewable energy, financing and installation service provider in Namibia.
In terms of the proposed transaction, Stimulus now owns a 67.6% ownership stake with the remainder of the shares owned by the founding shareholders and key members of management of Khomas Solar Saver. Khomas Solar Saver Formed in 2016, Khomas Solar Saver offers financing and long-term rental options for the installation of rooftop solar photovoltaics (PV) systems to corporate and commercial clients in Namibia.
The business model targets high-grade properties of long-term relevance and enables them to install a complete solar PV system without any capital outlay.
These systems go a long way in fulfilling the demand for cost effective, renewable energy solutions in a market that is increasingly favourable towards green technology. “Since inception, we have installed 12 solar PV systems, which include clients such as Lady Pohamba Hospital, Metro Hyper, Engen Academia, Oshana Built It and the River Crossing Lodge, with a further 14 PV systems in the process of being commissioned”, said Mr Owen Sivertsen one of the founding shareholders of Khomas Solar. “ We focus on installations with a peak capacity of between 17 Kilo Watt Peak (kWp) and 500 kWp at a capital outlay ranging between N$350,000 to N$7million per single site installation”, he continued.
In an announcement issued through the Namibian Stock Exchange, Mr Josephat Mwatotele, Executive Director of Stimulus Investments said, “Khomas Solar Saver has a highly competent management team with a unique combination of technical and financial expertise to roll-out and manage their business plan”. “Our investment will strengthen their balance sheet and allow the business to take full advantage of the opportunities of the increased “Go Green” ambitions amongst the corporate sector in Namibia”, he concluded.
-Stimulus Investments Limited/EBank