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Alba Iulia
Sunday, July 25, 2021

Zambia and World Bank’s IFC Signs Solar Power Deal

Headlines Zambia and World Bank's IFC Signs Solar Power Deal

President Lungu
President Lungu

Zambia ‘s President Edgar Lungu directed the Industrial Development Corporation of Zambia (IDC) to target and develop at least 600 MW of solar power in the shortest possible time to redress the current power deficit the country is currently facing.

According to the statement released to the media by State House, the IDC yesterday signed a memorandum of understanding (MOU) with the International Finance Corporation (IFC), the investment wing of the World Bank Group, to develop an initial two 50MW solar photo-voltaics (PV) independent power projects in Zambia.

The projects would be Zambia’s first utility scale PV projects, providing competitively-priced, clean power that would reduce Zambia’s dependence on hydro resources and diversify the energy supply mix.

The Head of State, who is the Board Chairman of the IDC, says new power projects are required to address the energy problems affecting Zambia. Poor rainfall over the past year has resulted in a national power generation deficit of about 560 MW.

The IDC, working with the IFC, therefore anticipates that the proposed solar power projects, with a combined initial target capacity of 100MW, will represent the first of several development rounds, leading to the rapid deployment of up-to 600MW of solar power in Zambia.

The proposed projects would be situated on separate sites and developed by different private sector sponsors, based on open and transparent selection. The projects will involve Zambian participation in their ownership structures. The commercial structure is expected to follow IFC’s recently-launched Scaling Solar initiative (www.ifc.org/scalingsolar). Scaling Solar is an innovative World Bank Group packaged solution that enables the rapid roll-out of utility-scale PV power plants across sub-Saharan Africa at locally competitive prices.

The President has reiterated Government’s resolve to address the current hydropower shortages, caused by low rainfall by active promotion of increased use of renewable energy technologies.

The IDC, an initiative of the late President Michael Sata, is an investment company wholly owned by the Government of Zambia and was incorporated in early 2014. The mandate of the IDC is to play a catalytic role in deepening and supporting Zambia’s industrialization capacity in order to support job creation and domestic wealth formation across all key economic sectors. The IDC plays its role through evaluation, pricing and lowering of investment risk profile by serving as co-investor alongside private sector investors and facilitating provision and raising of long term finance for projects. Simultaneously the IDC serves as an investment holding company for State Owned Enterprises and new investments and ultimately generates earnings for the proposed Zambia Sovereign Wealth Fund.

And IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity.

Preliminary and unaudited data for the fiscal year ending Jun 30 indicate that IFC’s long-term
investments totaled about $17.6 billion, including funds mobilized from other investors. That marked a 16 percent increase over FY14. IFC made about $10.5 billion in long-term investments for its own account and mobilized about $7 billion from other investors. These investments supported more than 400 projects across the world. For more information, visit www.ifc.org


  1. I’m one of those who thinks ka Lungu has exactly 2 brain cells rotating inside his dunderhead. But if he can advance the use of solar energy in Zambia, I will gladly put aside all my misgivings and cheer the little bugger.

    • Too little , too late for Lungu. This guy told s he had no vision and he truly meant it. His facial expression is of someone clueless. He now adds , “poor judgement”, to his credentials. People thought Sata (mhsrp) had cheapened the presidency, Edgar has out rightly rubbished it.

  2. That’s good! But the problem of doing projects hurriedly is usually failure to achieve desired results because some key aspects are likely to be overlooked.

  3. Some sensible news out of Zambia for once. Can we have the contentious issues news now , you have kept lying to us and we are now tired of the ..next week ..phrase, how many next weeks do you have in your mouth on the constitution? Infinite?

  4. Long overdue project. Zesco us a sleeping giant! Let us target supply of solar energy to over 70% of towns especially those without much industrial activity.

    Then we spare much hydro power to industrial use. In long term as we develop many hydro sub stations we connect those towns for industrial supply while residential remain on solar.

  5. Good move and good start for our country which reacts to crises rather than avert them! Did we have to go thru load shedding to take such a move? Why did we have to wait this long? Frankly speaking Zambian streets,villages and towns should have been well lit by now just using solar energy but we still move along dark streets and use traffic lights that are faulty due to unreliable power from the national grid! Why can’t we mobilise resources and light up our towns and villages using solar power?It can reduce crimes, encourage literacy. But up to now small towns you have been lighting up are being connected to the grid.Are councils going to be able to pay bills or it is just for show? Lets us make another bold move on irrigation before a crisis -proactive is better than reactive!!

  6. With UPND and FDD cadres, you can never win. No credit even where it is due. This is a working government that should be applauded. Ka HH and Ka Nawakwi are singing corkerels who will tell you to wake up at 05.00 even when you have already woken up at 04.30.

  7. Do you ever give credit to failure, thats mediocrity. You only give credit once the project is implemented, dont get excited, this could be another 90 day thing.

    • This is the same donchi kubeba formation….they promise is prose as mazungu sikote put it. Talk is cheap……I want to know when

      taxes will come down,
      more money will come in the pockets
      jobs will be available for the youths

      for this remains the campaign promise of PF.

  8. It is problems that helps people to look for other ways out of them, so Mr president it is the best solution at the best time. Keep it up.

  9. There goes my President. As it was in the beginning so shall it be in the end. I have always stated here that Zambia has a great President in Edgar Chagwa Lungu and all those who blindly oppose him is because its them who have nothing new or tangible to tell the voters.

    Here we are, this is the beginning of Solar power sources in Zambia and indeed job creation undertaking where those with brains will hastily embrace and create wealth for themselves and their next generations. The sun brings light and the day and it shall indeed assist Zambia have light when darkness dawns.

    Instead of the failed “politicians” like HH, Nawakwi, Mulongoti Msoni and the rest giving alternative solutions to the Zambians, they just keep halluscinating but my President is practical!

    2016, its ECL…

    • But look…no Fire fighting please. We need people that can think out of the box. Of course 2016 it is ECL again because the F00Ls have out numbered the wise. By 2016 these F00Ls would have forgotten their load shedding, fuel increases, poor kwacha, abusive language and threats, hard economic times, The Panga culture, Tribal sentiments(Wako ni wako) & Polygamous insults, bullying the chiefs, Corruption(Kaiser Zulu), wrong minister in Ministries(Kambwili, Chama……), uncalled for foreign trips, Borrowing un necessarily from the international community, etc. Ifintu ni Lungu.

  10. A proven failure (PF) will only write the correct answer after the teacher has given the answer sheet. This was supposed to done a while ago. You mean Zesco did not know of the deficit? How long have We be having load shedding? We need someone who is future oriented and not dealing with problems that should not be problems due to lack of planning and vision. LUNGU AND PROVEN FAILURE MUST GO. 2016 start packing you bags, maybe even have you last Jameson before you go to court to explain the $192 million you still have not accounted for.

    • You are a fool.Lungu has only been in office for less than a year.Blame MMD for all this.You just hate the man,but guess what,he’s your President whether you like it or not. Leave zambia if you detest him that much.we wont miss you.

  11. These are the quick responses we are looking for Ba President. Let us do something right away before God gives us the rains. Do not run the country on God’s plan…….God’s plan is not your plan. Make your own progressive plans and God will bless the fruits of your hands. Well done and continue being progressive.

    • God this God that? Please sit down..why do want to bring God in everything…your colleagues are constructing billion dollar over head railway lines and billion dollar business parks in Kenya…they are planning in advance…this is last minute solution remember last minutes means things cost more and your manufacturers and suppliers know that…it means more tax payers funds.
      Wake up..you are the same people opposed our suggestions!!

  12. Progressive but reactive news I have always suggested all along Solar Power should have been used as a back-up all along to supplement the national grid but does it have to take a presidential directive to do that? Do people just sit on their hands by the phone waiting for a directive? Do you have to wait last minute and hurriedly rush to the World Bank to obtain a loan at hideous interest rates when you could easily have done it in the boom times? You are now going to sign loans and hastily form proxy companies owned by ministers with no field experience to become suppliers and installers over night. We pay thousands of dollars a month to those directors at ZESCO to date no one has been fired? Why not go down the Public Private Partnership route? IDC is a tool for corruption….

  13. who is tribal a person who votes for good, dynamic and visionary leader and a person who votes for static, drunkard and visionless leader.

    If tongas are tribal, then why are bembas and nyanjas not voting for HH. this tell us that all tribes in Zambia are tribal. It is therefore wrong to pinpoint one tribe as tribal.

    who is tribal a person who doesn’t want to speak other tribes’ language and a person who joins in other languages. Bembas and Nyanjas despite all the leaders you vote for you are still poor and live in abject poverty. you are tooooooo lazy to work and comprehend realities.

    • Oh please ! Tonga that Tonga this, that’s all rubb!sh…the issue here is about solar and not who is more tribal than the other! Why can’t we for once blog like civilised people deBating the issue at hand? EISH SO SICKENING!!!!!!!!!!!!! You are simply off the mark Analyst!

  14. On this one, President Lungu deserves a huge pat on the back. Criticism will not take Zambia anywhere but bold solutions such as this one. The President has demonstrated bold leadership and vision by using the IDC to drive such an innovative agenda. If President utilizes the IDC the way KK used ZIMCO, I can see Zambia transforming into an industrialized country which creates employment and wealth for its people. I would like to therefore appeal to the President to please ensure that the IDC develops more projects that will have a transformative impact of the lives of the people of this great country Zambia. Viva ECL, viva PF

  15. it hasn’t happened. these are usual promises. PF are permanent follies of progress. this will dies a naturally death no progress

  16. ” the IFC made $10.6billion”
    when the PF hear statements like this, thier mouths are wet at prospect of more borrowing to steal…

  17. Who is responsible for?

    …electoral violence as seen in the Kitwe PF officials now in court
    …Chama sms that PF defeated Luvale, Lozi and Tonga in last election
    …PF corruption using Police road blocks to raise party funds
    …massive borrowing (HIPC)
    …devaluation of the Kwacha
    …high fuel, mealie meal, sugar, bread, grocery prices
    …failure of health system
    …wako-ni-wako wamuvumo ideology
    …collapse of service delivery in health and education
    …wamumala appointments in civil and judiciary service
    …corruption in govt offices
    …power cuts
    …grabbing of land by PF cadres
    …stealing of market levies by PF official

  18. It is amazing how easy it is to appease Zambians! Lungu just signs an MOU and some people are already praising and cheering before getting details of how and when, let a lone ‘if’ ???? Poor mother Zambia, no wonder others exchange their NRC & Voter Cards for a packet of sugar! Cry the beloved country has gone to the dogs.

  19. ”IFC made about $10.5 billion in long-term investments for its own account and mobilized about $7 billion from other investors. ”’

    ma..,ma..ma…dont show PF such statements, they are already forming at the mouths at the prospect of more borrowing in order to steal….


  21. Too late , Chagwa, HH , talked about electricity, but you did not believe him, forget about it , let’s wait for elections
    To come, we are sick and tired, change fye.

  22. ..Normal govts are promoting renewable energy which are 100%owned by private firms. Why insist on a parastatal that will fail due to animal farm instincts.. Hmm president Lungu..

  23. We do not need another power monopoly; what we need is to take advantage of this crisis to devolve the distribution of power. I am urging as many able citizens as possible to delink from this f00lish, poorly planned power infrastructure and lead the charge to give power to the poor who are always bearing the brunt of decades of useless leadership. Not another behemoth that will one day start blaming poor sunlight for loadshedding…

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