Namibia needs US$ 9 billion (N$166.5 billion) to set up a nuclear power plant

By: Hertha Ekandjo

Energy expert, Andreas Simon says Namibia needs between US$ 6 and 9 billion (N$166.5 billion) to set up a nuclear power plant depending on the scale and technology used.

President Netumbo Nandi-Ndaitwah suggested over the weekend that Namibia should move towards a nuclear power plant.

She said a mix of reliable energy and clean energy is needed to grow the economy and take people out of poverty.

“Collectively let us start moving towards the nuclear power plant in Namibia and identify potential partnerships to achieve this goal. We need a mix of reliable energy and clean energy to grow our economy and take our people out of poverty,” she noted.

Nandi-Ndaitwah emphasised nuclear energy is essential, and that the government will put in effort to make sure the environment is conducive for the mining sector to flourish.

Simon added that there is no shortage of global funding mechanisms available to support such endeavours.

According to Simon, nuclear energy is not only a clean and safe power source but is also as an opportunity for Namibia to become a regional electricity exporter.

“When you look at the benefits of a nuclear plant, it is safe as an energy source and renewable in nature, it gives us the potential to generate electricity not just for ourselves, but also to meet the growing energy needs of neighbouring countries, including those in Saudi,” Simon noted.

He acknowledged that while setting up a nuclear plant is expensive, there are options especially through international financing frameworks like those discussed at COP29, which are designed to help countries transition to cleaner energy sources.”

Namibia, he added, is uniquely positioned to explore nuclear energy thanks to its long-standing experience in uranium production.

He referenced the Namibia’s Rössing uranium mine, one of the world’s oldest, celebrates its 50th anniversary this year, stating that Namibia has been producing uranium for decades.

“Our industry isn’t starting from scratch, we have the expertise and the track record,” Simon said.

While acknowledging concerns around safety and radioactive waste, Simon pointed out that global standards already exist for safe uranium enrichment and waste disposal, including underground storage in sealed chambers. “As long as proper waste management plans are in place, and we follow global safety standards, there’s no reason to be afraid of nuclear,” he said.

According to Simon, over 31 countries have expressed support for expanding nuclear energy as a key tool to meet climate goals. He believes Namibia should now join that global shift and begin formal discussions on feasibility, partnerships, and implementation.

“Let’s support the Head of State and start the national conversation,” Simon urged. “We have the licences, we have the uranium, and we have the global support. Now we need the will to move forward.”

He stressed that access to funding is not the issue and what is needed is a clear commitment and willingness to engage with international partners.

“The money is there,” he said. “We just need to step into these financing mechanisms and put something concrete on the table. Namibia has a strong case we just need to act.”

The post Namibia needs US$ 9 billion (N$166.5 billion) to set up a nuclear power plant first appeared on Future Media News.

The post Namibia needs US$ 9 billion (N$166.5 billion) to set up a nuclear power plant appeared first on Future Media News.