MONICA KAYOMBO, Lusaka.
IN an effort to mitigate the country’s energy deficit, Zambia is turning to solar power as a sustainable solution. The move comes after the country experienced severe blackouts last year due to droughts that affected hydro-power generation.
The Kariba North Bank Extension Corporation (KNBEC) is developing a 100-megawatt solar plant in Chisamba, with financing from KNBEC and construction by Power China. The project is expected to be fully commissioned by May this year.
This was revealed during the recent tour of the solar project by the delegation from Energy Forum for Africa ( EFFA), Stanbic Bank, Ministry of Energy, Africa Greenco and other stakeholders.
“We are here to see what progress KNBEC has made. This is because we have created three committees. One of them is a financial and investment committee, regulatory and the technical committee,” EFFA convener Hope Chanda said during a tour of the plant.
Ms Chanda noted that the EFFA committees had identified that the KNBEC project needed to quickly come to a financial close because a lot of work had been done.
“Our target for the Energy Forum for Africa is to see 500 megawatts added to the national grid this year looking at the tragedy (drought) we faced last year. We do not want to experience that again,” she said.
KNBEC Chief Executive Officer Engineer Boyd Kanchela said the 100-megawatt solar PV plant was being financed by KNBEC, which is a subsidiary of Zesco Limited, although it has its own governance system. “This project is $100 million and the contractor is Power China and in terms of financing, it is 70 percent debt and 30 percent equity. The project delivery period is 10 months,” Eng. Kanchela said.
The KNBEC solar project has employed 750 local people, with over 1,500 expected to be employed at the peak of the project. Once fully implemented, the KNBEC Chisamba Solar Plant will reduce Zambia’s drought energy deficit by 100 megawatts, currently standing at 60 percent.
Stanbic Bank Head of Corporate and Investment Banking Hellen Lubamba expressed her team’s happiness to witness the progress made at the solar plant. “This is what we were looking forward to. As the gold sponsor of the 2024 EFFA, we are happy to see that something is being done to address the energy deficit in the country. We stand ready to help other investors that want to invest in the energy sector,” she said.
Power China Chisamba Solar Plant project site Manager Lee Dongzang assured that the power project will be completed before 10 months.
“We are aware and concerned about the power deficit and will work hand in hand with all the stakeholders involved in the project to help address the energy deficit,” Dongzang said.
