Minister of Energy, Peter Kapala has noted that the entry of the private sector into the Zambian Electricity market will support the country’s development of a greener and diversified energy mix that supports jobs and investments.
Engineer Kapala says this is the reason Africa GeenCo’s participation in the country’s energy sector is a milestone that signifies government’s efforts to create a conducive environment aimed at attracting private investment in an open, transparent and competitive electricity market.
Mr Kapala was speaking in Lusaka today, at the launch of Africa GreenCo, an alternative off-taker for renewable energy in Zambia and the region.
Mr Kapala said following the enactment of the 2019 energy sector legal framework, Africa GreenCo has been the first renewable energy buyer and trader in Zambia which seeks to enhance project bankability and reduce the risk for independent power producers.
He said the hope of the government is to ensure the private sector like GreenCo contribute towards making projects in the energy sector more bankable, whilst encouraging the growth of the electricity markets to foster economic development.
“I’m reliably informed that GreenCo’s support has been made possible through the generous support from various support including the Denmark Investment Development Fund for Developing Countries (IFU), Infranco Africa and electricity, through which US$15.5 Million was raised for this project,” he said.
ZESCO Managing Director, Victor Mapani said government has a drive to end load shedding and increase the production of copper to 2 Million tons which will require a lot of energy.
Engineer Mapani stated that to achieve these dreams actors like Africa GreenCo will play an important role in the energy sector.
And Africa GreenCo Founder and Chief Executive Officer Ana Hajduka said her organisation aims to increase private sector investment in energy generation in Sub-Saharan Africa by mitigating the credit risks associated with the current lack of creditworthy offtakers.
Ms Hajduka said GreenCo’s model involves purchasing power from renewable independent power producers (IPPs) and selling that electricity to utilities, private sector offtakers.
“Reaching this financial close will enable us to support a portfolio of up to 110MW of renewable energy, we are extremely grateful to our investors and partners from the Zambian government, ZESCO, the SAPP team and existing ASPP partners,” she said.
Here comes privatisation. We warned you. Hh is now appeasing the western entities who funded his decades of election losses.
Its a good move so that Zesco can have competition and maybe improve their services.
The biggest hindrance to the growth of this sector is Zesco. We’ll continue to move circles unless there are radical changes beginning with the Act that declares Zesco as the single buyer of electricity. CEC has failed to invest in generation because of the same Act, independent power producers have failed to expand because Zesco doesn’t pay them on time. Some have even scaled down. Reforms are resisted because Zesco is a cash cow for successive politicians
@ Patrick: I very much conquer with you. I know you commented 2nd after the Kaisa sulu but i wish Lusaka Times can move yours above his, cos yours makes all the sense thats needed out of this article.
I have got European friends from reputable universities who are engineers but are never prefixed as Engineer so and so.
Coming to the matter at hand…. it’s time we were liberated from the Zesco slavery
Please stop calling him “Engineer” Kapala or the ZESCO MD “Engineer” Mapani
Look at the small figures they are talking about in comparison to the MW production …$15 million plant producing 110 MW, such figures is what IDC and ZESCO wastes on christmas parties and company vehicles for Directors.
@Kaiser, you left us in abject poverty and we are now cleaning your mess. You better just keep your mouth shut, whilst we work.
Nzali you were suffering there abroad even before pf came to power. Today you are still doing menial jobs that Americans don’t want to do there, and you want to blame pf. You have always been poor and a failure and no amount of miracle will change that.
And you stup!d KZ, how is your cleaning job going in Belmarsh? Thankfully that criminal PF has finally got the message : to just totally SH4T UP. They’re all in jail and so will you once you have finally stolen the money for the trip home. No we’re NOT welcoming you home, no way!
#6 Tarino Orange… How about calling someone Economist Kunda, Accountant Choolwe, Human Resource something etc
@ Kaiser. Ha, ha ha, ha, what a laughingstock you are. Shame on you looking down on other people’s jobs. That is also shallow thinking, assuming everyone out here is doing the same job. By the way money gained from working in what you term “menial jobs” is supporting family and communities at large without abusing OPM. What is wrong with earning money from hard work, which helps with bills back home for parents and family? These “menial jobs” make the world a better place. As a human being, learn to respect others, regardless of what level you may classify them. You may label others poor, but that is definitional. People may not have UNNECESSARY material things, if that is poor to you, just know that they are rich in spirit, happy and love God for such abundant blessings. We…
Cont….
We also sleep in peace and don’t run away from our own shadows.
Try and focus your energy on developmental issues in Zambia, now that you seem to have more time to think, hopefully straight. There is a new “Sheriff and Deputies” in town, who are digging us out of the mess. Keep dreaming.
Cont… We also sleep in peace and don’t run away from our own shadows.
Try and focus your energy on developmental issues in Zambia, now that you seem to have more time to think, hopefully straight. There is a new “Sheriff and Deputies” in town, who are digging us out of the mess. Keep dreaming.
Cont… We also sleep in peace and don’t run away from our own shadows.
Try and focus your energy on developmental issues in Zambia, now that you seem to have more time to think, hopefully straight. There is a new “Sheriff and Deputies” in town, who are digging us out of the mess. Keep dreaming.