PRESS RELEASE – ORYX PROPERTIES LIMITED

ORYX INVESTS IN ENERGY EFFICIENCY AND SUSTAINABLE POWER

Oryx Properties Limited, Maerua Mall’s Namibian owner, has commissioned local firm NEC, overseen by Seelenbinder Consulting Engineers, to mount grid-connected solar panels that will allow the shopping mall to generate at least 1 800 MWh (megawatt-hour) electricity per year and bringing welcome relief to the pressure currently experienced by the national electricity grid. The polycrystalline-silicon panels that make up the ±6 600m² array have a 25-year warranty, but can have an operational life of as much as 40 years. Further encouraging news is that Maerua has ±16 000m² additional suitable roof space for future expansion, in which case it could be able to supply up to 35% of its diverse electricity needs.

Most of the energy imported by Namibia still derives from coal-fired power stations. The clean energy generated by Maerua’s PV installation alone will save the environment from 1 800 tons of carbon emissions that would otherwise have resulted.

By diversifying into the many renewable energy solutions available, such as PV plants to the supply grid, Oryx took a giant leap in aiding a whole range of economic, social and environmental challenges simultaneously. Oryx is proud to bring ownership of our electricity supply home, reduce our carbon footprint and reduce the risks that stem from our current national part-dependence on fossil fuels.

By committing to this project, Oryx has shown its intention to pursue and invest in feasible projects, benefitting both its shareholders and the environment. Oryx will continue to invest in similar green building initiatives across its N$2 billion portfolio, as this endorses their intention as a responsible corporate citizen to apply sustainable business practices.