Namibia: Wesbank to Finance Renewable Energy Technologies

WesBank Vehicle and Asset Finance, a business unit of FNB Namibia has joined other financial institutions to finance renewable energy technologies in face of the looming national energy crisis.

WesBank is offering FNB customers and the general public financing for alternative energy solutions.
Elmarie Cilliers, Head of WesBank said that her business unit understands the need for reliable energy sources, be it at home, on a farm, a corporate business, small-and-medium enterprise or even oil companies.

"That's why Wes-Bank is ready to finance solar panels and generators to manage unexpected power outages, which can pose serious challenges for the growth of the Namibian economy," she said. Cilliers said employees of WesBank Branches in Windhoek and Walvis Bay, supported by any FNB Branch countrywide were on standby to assist FNB customers and the general public with applications to invest in alternative energy solutions.

The Head of WesBank cautioned that fears of crippling power outages in Namibia are setting in, following Eskom's announcement in January that it would halt its power exports to its neighbouring countries including Namibia because of its inability to meet the growing demand in South Africa.

NamPower warned of forced load shedding and time-of-use tariffs for electricity usage at peak times, urging Namibians to save up to 20 percent of their electricity usage whether they are private households, municipalities or large consumers like mining companies.

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By: allafrica.com

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