Zambian Solar Power Project
Zambia has over 2109 kWh/m2 of annual solar power (approx. 4,403 hours of sunshine each year) meaning PV energy is perfectly suited to Zambia’s climate. In 2019, the government mandated the procurement of 600 MW of PV energy to increase total electricity generation to 6,000 MW in the next 10 years.
A UNIQUE BUSINESS MODEL: a Zambian holding company for six subsidiary companies (7 power plants) which are merged corporately but still retained their individual identities.
The holding plays an active role in stimulating and guiding the development of its constituent companies, which are all registered entities in the solar renewable energy sector.
Each of the seven 200MWp PV Solar Plants will sit on a 200 hectares piece of land. The power generation capacity is estimated at 379 680 000 kWh per year.
All the projects have received a ‘No Objection’ from the Zambian Ministry of Energy, Office for Promoting Private Power Investments (OPPI) to proceed with feasibility studies.
A MOU and NDA has been executed with Zambia Electricity Supply Company (ZESCO) and there are currently negotiations in terms of power purchase agreements or power wheeling arrangements and all the necessary pre-production studies.
Simulations for each of the sites are already done and business plans are completed.
6 Strategically located sites in Zambia:
Chifwema just outside Lusaka
Kalulushi on the Copperbelt next to a huge mine that is ready to be its off taker
Chikankata next to Kafue Gorge Power Plant
Livingstone next to the Harry Mwanga Nhumbula International Airport
Chipata in the Eastern Province of Zambia
Kasama site and Rufunsa sites are run by ABC Energy Works & Supply Limited
Funding required: $281,616,800 per site
A combined total of $1,971,317,600
Joint Venture, Equity Financing, or Non-Recourse Loan