11
Zambia to receive
USD11.75m for
Ngonye solar project
The European Investment Bank (EIB) has
signed a USD11.75-million loan to build
the Ngonye solar power plant in Zambia.
The 34MW solar plant, which is aimed to generate around
70GWh of power each year, will help Zambia tackle energy
shortages and diversify its electricity generation across the
country. The plant will be built by the Enel Group and Zambia’s
Industrial Development Corporation (IDC) and will be located in
the Lusaka South Multi-Facility Economic Zone (MFEZ).
“The ongoing initiative to standardise both tendering and financing
processes is creating economies of scale for solar projects across
the African continent, improving economic viability and resulting
in the development of solar power in smaller markets and in
developing countries,” said Andrew McDowell, EIB vice-president.
“After recent support for solar projects in Morocco and Kenya, the
EIB is very proud to support Zambia in exploiting this abundantly
available resource for the benefit of its citizens,” he added.
Construction of the plant will also be supported with two loans:
USD10m from the World Bank and USD12m from the International
Financing Corporation (IFC), a Canada Climate Change Programme.
The Ngonye solar power plant is the second Scaling Solar project
under development in Zambia, the contract having been awarded in
June 2016. The first project awarded under the scheme is a 45MW
solar PV plant that is also near Lusaka, with construction set to
start soon by French company Neoen and US giant First Solar.
Scaling Solar is a World Bank Group initiative that aims to support
the development of more than 1GW of solar power across Africa. It
provides competitive bidding and simplified procurement for grid-
tied photovoltaic power, even in smaller markets.
With a huge population that is not connected to electricity,
McDowell believes that by using available natural resources such
as sunlight and wind, the continent can help millions of Africans to
have electricity and spur economic growth. PA
Source: Construction Review Online
The European Investment Bank has signed a
USD11.75-million loan to build the Ngonye solar
power plant in Zambia.
August 2018 Volume 24 I Number 6