Zambia Development Agency (ZDA) Chief Executive Officer Patrick Chisanga says a leading Germany firm involved in the energy sector has shown interest to invest 500 million US dollars to set up a solar energy power plant in Zambia.
The German firm, which he did not name, had said it would be able to generate up to 400 megawatts (MW) to be channelled into the distribution system of State-owned power utility Zesco, Mr Chisanga said.
This is more than the projected power expected from the Kariba North Bank Power Station extension project which will have a generating capacity of 360 MW and will contribute greatly towards mitigating the power challenges which Zambia is facing, he added.
The ZDA Chief Executive officer is reported to have said this yesterday by the ZDA website.
Mr. Chisanga said the ZDA had already held talks with the German energy firm which is ready to build its solar energy power plant at the Lusaka Multi-Facility Economic Zone after all agreements are finalized.
He also disclosed that a number of prospective investors in the energy sector from China and Britain had also shown willingness to invest in the country’s energy sector.
Mr. Chisanga noted with regret that a number of firms set up at the Multi-Facility Economic Zone in Copperbelt Province had actually scaled down production because of constant power outages.