Business

AfDB approves $50 million funding

ESTHER MSETEKA, Lusaka
AFRICAN Development Bank (AfDB) has approved a US$50 million framework financing small-scale renewable energy projects in Zambia to enable the country to diversify its energy generation that is heavily reliant on hydro-electricity.
In 2017, Zambia launched the Renewable Energy Feed-in-Tariff (REFiT) policy to crowd in private investments for small-scale projects of up to 20 megawatts (MW) renewable energy after facing a serious electricity supply deficit due to droughts.
In a statement last week, the bank said the ‘Global Energy Transfer Feed-in Tariffs’ (GETFiT) Zambia programme has been designed to facilitate the implementation of the REFiT policy.
“The framework aims to finance 100MW of renewable energy projects, primarily solar photovoltaics to be selected under the READ MORE

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