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Africa|Construction|Copper|Energy|Hydropower|Installation|Power|Projects|Renewable Energy|Solar|Water
Africa|Construction|Copper|Energy|Hydropower|Installation|Power|Projects|Renewable Energy|Solar|Water
africa|construction|copper|energy|hydropower|installation|power|projects|renewable-energy|solar|water

Zambia signs $2bn solar power development pact with UAE

18th January 2023

By: Bloomberg

  

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Zambia and the United Arab Emirates (UAE) signed a $2-billion agreement to build solar plants in the Southern African country that will increase its generation base by more than half.

The joint venture between Zambia’s state-owned power utility, Zesco, and a UAE government-owned renewable energy company, Masdar, targets the development of 2 000 MW of solar power projects, President Hakainde Hichilema said in a statement on his Facebook page.

Construction will be done in phases, starting with the installation of 500 megawatts, Hichilema said.

“This is not a loan but a capital injection in which the Zambian people, through Zesco, will be partners in shareholding,” he said.

Zambia, Africa’s second-biggest copper producer, has an installed electricity generation capacity of 3 500 MW. The country is currently suffering rolling blackouts lasting as long as 12 hours a day after water levels in the Kariba Dam — used by Zambia and neighbouring Zimbabwe to generate hydropower — declined drastically.

Edited by Bloomberg

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