Namibian financial institutions and institutional investors have backed the N$1.6 billion Diaz Wind Farm near Lüderitz through a N$1.5 billion debt financing package.
The 50-megawatt (MW) project, developed by InnoVent, was officially inaugurated on 23 October 2026 and is currently generating 32 MW as it progresses towards full production capacity.
Investment firm IJG said it arranged and advised on the financing, which includes N$320 million in junior debt and N$1.2 billion in senior debt facilities.
The transaction brought together Standard Bank Namibia, the Government Institutions Pension Fund (GIPF), Old Mutual Namibia and Tulive, demonstrating the participation of domestic financial institutions in funding large-scale energy infrastructure.
IJG served as lead arranger and facility agent for the junior debt facilities, while the senior debt financing was structured and implemented in partnership with Standard Bank Namibia.
The financing represents approximately 94% of the project’s reported N$1.6 billion investment value, highlighting the scale of debt capital mobilised for the development.
The wind farm is expected to supply up to 50 MW to the national electricity grid once fully operational, increasing Namibia’s domestic renewable energy generation capacity and supporting efforts to reduce reliance on imported electricity.
The facility was officially inaugurated by Deputy Minister of International Relations and Trade Jenelly Matundu and //Kharas Regional Governor David Gertze.
Beyond electricity generation, the investment supported approximately 200 jobs during construction, while local content accounted for about 45% of project activities.
Namibian businesses participated in civil and electrical works, as well as crane installation, providing opportunities for local contractors and service providers.
The Namibia Investment Promotion and Development Board (NIPDB) played a facilitation role by coordinating engagements between the developer and relevant government institutions.
Its involvement included resolving overlapping interests within the mining licence area and assisting with visa and employment permit processes for project personnel.
The development aligns with Namibia’s Sixth National Development Plan (NDP6), which identifies renewable energy expansion and energy security as priorities for economic development.
InnoVent acquired the Diaz Wind Farm project in 2022 and commenced construction in 2023.
The project expands the company’s renewable energy portfolio in Namibia, which also includes the Ombepo Wind Farm near Lüderitz.
With 32 MW already being generated, the Diaz facility is moving towards its full 50 MW capacity, adding to Namibia’s domestic power generation infrastructure while demonstrating the potential for institutional capital to finance major energy projects.
