Business

OPIC in $20 million solar project

KEVIN CHONGO, Lusaka
THE Overseas Private Investment Corporation (OPIC) has committed about US$20 million to finance Bangweulu Power Company Limited to construct a 55 megawatts (MW) solar power plant at the Lusaka South Multi-Facility Economic Zone.
Nearly 95 percent of Zambia’s power comes from hydro-power plants.
But, OPIC president Ray Washbume, who is in the country and toured Zambia’s first large-scale solar power facility, said the project will supplement the hydro- generated energy.
Mr Washbume said the development will support the country’s growing economy and create jobs.
“OPIC is committing up to US$19.9 million in financing to Bangweulu Power Company Limited to develop, construct and READ MORE

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