Business

More show interest in solar initiative

TRYNESS TEMBO, Lusaka
TWENTY-ONE investors have submitted applications for the phase two scaling-up solar power initiative that will help to cushion the current power deficit, the Industrial Development Corporation (IDC) has disclosed.

The US$1.2 billion, World Bank-supported scaling-up projects involve the development of 600 megawatts of solar power plants with the contract for the phase one project being awarded to Neoen and Enel.
According to a statement issued by IDC, the corporation is expected to announce the successful bidders after evaluating the bids soon.
“IDC is happy with the high calibre of investors interested in the grid-scale solar power initiative following the closing of submission of applications for pre-qualification of round two of the scaling-up solar initiative on Friday, May 5, 2017.
“The turnout was excellent, with submissions including leading international renewable energy developers as well as a significant number of local and regional players,” the statement reads.
The winning bidders will finance, construct and operate as independent power producers for 25 years then transfer the projects to Government.

 

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