(ADPnews) - Nov 4, 2010 - Luderitz, a coastal town in southern African Namibia, will become home to a 44 MW wind farm to be built by an international tie-up for USD 150 million (EUR 107m).
The consortium includes Namibian United Africa Group, which will hold a 60% stake in the project, Japanese trading house Sojitz Corp and Korea-based Midland Power Corp that will own 20% each.
The wind power project, which is currently in a pre-feasibility phase, is planned to be funded via a combination of debt and equity.
According to the plans, the facility should come on line by 2013. It is anticipated to lift Namibia's power capacity by over 5%.
(USD 1.0 = EUR 0.713)
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