First National Bank (FNB) has responded to an article that said it would no longer finance solar power systems. The bank said that the N$5.7 million fund provided by the UNDP had expired. The bank was appointed as the banking partner for the Namibian Ministry of Mines and Energy’s renewable energy project, officially launched on July 1.
The Namibia Renewable Energy Program (Namrep) acted as the implementation agency for the Ministry while the UNDP was the sponsoring partner which resulted in renewable energy installations in 12 of the 13 regions of Namibia with salaried workers, self-employed entrepreneurs, and farmers that are now the proud owners of this cost-effective and clean source of energy.
To ensure that only quality solar electricity and water heating equipment were used and proper installations made, a list of approved suppliers was compiled by the ministry. All payments were made directly to these suppliers on completion of the installation. The final payments to suppliers will be made once the last few installations have been completed.