By:Economist

The governments of Namibia and the United States on Thursday signed a Memorandum of Understanding (MoU) focused on the renewable energy sector. The MoU will be operative for five years.

The MoU aims to strengthen cooperation between the two countries in promoting renewable energy programs and increasing their effectiveness. By working together, Namibia and the United States seek to achieve more tangible and measurable development outcomes in the clean energy sector.

The agreement was signed by the Minister of Mines and Energy, Hon. Tom Alweendo, and U.S. Ambassador to Namibia, Mr. Randy Berry.

The Ministry of Mines and Energy and the United States Agency for International Development (USAID)’s Power Africa Initiative will be responsible for the implementation of this MoU.

Alweendo said in his keynote remarks, that the MoU serves as a vital framework for collaboration and is an essential part of the country’s broader national ambitions.

“Through this partnership with the United States, we will explore innovative technologies and enhance our capacity in key areas such as solar and wind energy” he stated.

The Minister also acknowledged the importance of regional collaboration in achieving shared renewable energy goals, such as working with neighbouring countries, which will enhance Namibia’s collective energy stability and foster economic growth throughout the Southern African region.

The government is actively pursuing regulatory reforms that promote transparency and attract institutional investors and is committed to making the country an attractive investment destination for renewable energy reducing or eliminating barriers to investment, and attaining Namibia’s Vision 2030 strategy by expanding the country’s renewable energy generation and bridging the gap between domestic power generation and total consumption of renewable energy.

On his part, U.S. Ambassador to Namibia, Berry said, “This agreement underscores our shared commitment to Namibia’s sustainable economic growth and industrialization. It also reflects the strong partnership between our two nations, built on mutual respect and a common vision for a prosperous future.”

The Deputy Assistant Secretary Ms. Kimberly Harrington emphasized, “This process took time, which reflects the vast number of players from the U.S. Government who are eager to partner with Namibia, and we are excited to be actively working to achieve our shared objectives.”