Business

Chikwanda nods GreenCo entrance in power sector

KALONDE NYATI, Lusaka
ENERGY expert Johnston Chikwanda says the entrance of GreenCo Power Services into the electricity off-taking market will ease the burden on Zesco Limited, which has been the only offtaker of power from independent power producers (IPPs).
Last week, Africa GreenCo Group, with its Lusaka-based operating company GreenCo Power Services, announced an investment of US$1.5 million by Denmark’s Investment Fund for Developing Countries (IFU) and Private Infrastructure Development Group’s InfraCo Africa to support renewable energy.
Mr Chikwanda said in an interview on Wednesday that the development will signify a shift from a single-buyer model to a multi-buyer model.
Under the single-buyer model, IPPs sell power to Zesco, which in turn sells to end users. The cost of power from IPPs is relatively expensive, yet Zesco sells it at CLICK TO READ MORE



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