Alpha Namibia Industries Renewable Energy Power Limited (Anirep) invested N$108.9 million in revenue-generating assets during the 2026 financial year as it continued expanding its renewable energy portfolio, helping lift consolidated revenue to N$95.4 million.
Presenting the group’s financial results, Chief Financial Officer Veneranda Mahinda said N$77 million of the investment was allocated to physical infrastructure, while the balance was invested in associated companies, including the group’s Auas project.
Mahinda said the investments strengthened the company’s asset base, with property, plant and equipment increasing to N$631 million despite annual depreciation and impairment charges.
“We invested about N$108.9 million into revenue-generating assets. The majority of this went into physical assets, N$77 million, and the rest was an investment in associates,” said Mahinda.
She said the group’s operating assets generated N$95.4 million in consolidated revenue during the year, while total revenue, including transactions between companies within the group, amounted to N$146 million.
Mahinda said the investments were also beginning to translate into stronger operational performance, with the company recording positive operating cash flows for the first time. Cash generated from operations totalled N$55.9 million, marking a shift from the construction phase to revenue generation.
“For the first time, we had positive cash flows from operations. We have reached the point where the investments we made over the last seven years are now generating revenue. We built the platforms, and now we have turned into the phase of growth and execution,” said Mahinda.
Despite the improved operational performance, Anirep reported a loss after tax of N$52.2 million following a N$40.2 million non-cash impairment adjustment relating to the Aussenkehr Solar One project.
Mahinda said the impairment resulted from the annual accounting assessment of asset values and did not reflect a deterioration in the group’s operational performance or cash-generating ability.
“It is not a cash loss. There was no cash leakage because of the impairment adjustment. There is no deterioration in operational performance. It is not permanent, and it is not a measure of the group’s underlying earnings or cash-generating ability,” said Mahinda.
She said Anirep continues to maintain a strong balance sheet, with total assets of N$1.2 billion, while pursuing further renewable energy investments supported by a combination of equity, debt and project finance.
