Competition is set to heat up in Namibia’s renewable energy market, with the entry of Puma Energy’s Future Energies.
The oil giant told The Brief that its Future Energies unit was a response to the energy transition – a move from large, centralized, thermal power production to smaller, modular, distributed renewable energy systems.
“Future Energies is responsible for providing sustainable, affordable, and reliable energy solutions to its customers worldwide. Aligned with Puma’s high standards of operation, technical expertise, and customer service, Future Energies is working with our customers across our footprint to help them meet their energy objectives,” the company said in response to an inquiry from The Brief.
The Puma Energy unit has already completed the installation of solar power systems across 21 of the fuel company’s Namibian service stations, a depot and two local terminals.
“The first step of our strategy in Namibia was to showcase our expertise in the renewable energy sector by energizing our assets (retail stations, depots, terminals, refineries, etc.) to attract external customers,” said the company.
Puma indicated that the 8-month installation project will diversify energy supply and reduce dependence on the grid, while providing cost savings against rising electricity prices, with the Electricity Control Board having last week approved a 7.3% tariff hike, a development expected to hit consumers and businesses.
“The project construction kicked off in August 2021 and was completed at the beginning of March 2022. The total DC power capacity installed is 787 kWp,” the company said, but remained tight-lipped on the costs of the project.
Puma’s Namibian installation is part of a global rollout, with 38 sites now operational in Africa, 61 in Latin America and two in Papua New Guinea.
The plans by Puma come as competition is increasing in the country’s fuel retail sector with the entry of Namcor, which has also announced plans to aggressively expand its network.
Pick n Pay has also announced plans to expand its service station convenience store offering, with Puma Energy Namibia having entered into a partnership with OK Stores to open 12 new OK Express stores at some of its service stations spread across the country, with an additional 10 new stores having been planned.
Puma is one of dominant players in the country’s fuel retail sector with 61 stations in Namibia, having announced plans last year to add five new sites.
