Namibian United Africa, Korean Midland and Sojitz Corp to build 44 MW wind power plant in Namibia

An international consortium said it would build a wind energy plant near the Namibian coastal town of Luderitz at a cost of about $150 million, which will initially add 44 megawatts of generation capacity.

Namibian United Africa Group will hold a 60 percent share of the wind farm, while Japanese trading house Sojitz Corp (2768.T) will hold 20 percent and the Korean Midland Power Corporation will hold the other 20 percent, the group said.

The wind farm, which is in a pre-feasibility phase, will be financed through a combination of debt and equity.

The wind turbines should be feeding electricity into the national grid by 2013, increasing the southern African country’s power capacity by more than 5 percent.