Description of Activities

The Commission resolved to approve without conditions the acquisition by Equitus Investments (Pty) Ltd (Equitus Investments) of interest in Alten Solar Power (Hardap) Pty Ltd (Alten Solar Power). The Transaction was notified to the Commission on 24th of July 2024, and the merger was determined on 26th of September 2024.

The primary acquiring undertaking, Equitus Investments is a company incorporated for the special purpose of the acquisition of the target undertaking and as such does not currently sell any goods or provide any services. The acquiring group is involved in the investment of renewable energy projects in Africa including Namibia and is an independent power producer focused on developing, financing, owning, managing and operating renewable energy projects in Africa.

 The target undertaking, Alten Solar Power (Hardap) Pty Ltd supplies and sells solar photovoltaic generated electricity from the 37MW solar photovoltaic project facility located near Mariental in the Hardap Region. 

Relevant market: The Secretariat defined the relevant product market to be the market for national electricity generation. 

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition; does not result in any undertaking acquiring or strengthening a dominant position in the market, and does not raise any public interest concerns.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian Laws.