Standard Bank Invests in Namibia's Diaz Wind Project - A Major Renewable Energy Initiative by InnoVent
30 May 2025
Country
Namibia
Year
2025
Sector
Energy and Infrastructure
Business Unit
Investment Banking
Specific Role
Sole Mandated Lead Arranger and Underwriter
Standard Bank is proud to announce that it has partnered with InnoVent SAS to provide NAD1.2 billion in funding for the Diaz Wind Project, Namibia's largest wind energy farm. This investment underscores the bank’s commitment to supporting renewable energy and driving sustainable development across Africa.
The Diaz Wind Project, a 44MW wind energy farm near Luderitz, will significantly contribute to Namibia's energy independence by reducing reliance on electricity imports. The project aligns with the country's power procurement plan, emphasising the development of its own renewable resources.
The bank acted as the sole mandated lead arranger and underwriter, providing NAD1.2 billion towards the project's construction costs. This demonstrates the bank's expertise in structuring and funding complex energy projects in Namibia, building on its track record of supporting the country's first large-scale solar independent power producer (IPP), wind IPP and national fuel storage facility. This bespoke funding solution strengthens Namibia's energy infrastructure and positions the country to execute on its strategy of energy independence and sustainable growth.
Once operational, the Diaz Wind Project will generate 226 969MWh of clean energy annually, displacing approximately 177 000 tons of CO2, which will provide a stable and viable energy source for Namibia's supply mix.
InnoVent Group already operates 25MW of renewable energy projects in Namibia, including solar photovoltaic (PV) plants and a wind farm, and has an additional 93MW of projects under construction. This partnership with Standard Bank will further solidify InnoVent's position as a key player in Namibia's renewable energy sector.
Through this transaction, we reaffirm our ability to deliver innovative investment banking solutions and build long-term strategic partnerships that support industrial growth, employment and appropriate funding solutions. We are incredibly proud to be associated with advancing Namibia’s journey towards energy security and excited to provide the same service to our other clients.