Business

REA plans to woo private investors

THE just constructed 66/33/11KV, 2.5MVA sub-station by the Rural Electrification Authority in Luampa district to the national grid in Western Province. PICTURE: KALUMBA CHIBABILA/ ZANIS

ESTHER MSETEKA, Lusaka
THE Rural Electrification Authority (REA) plans to provide subsidies to the private sector intending to invest in renewable energy to cushion the losses incurred in the initial stages of the project.

REA managing director Geoffrey Musonda said there is need for the private sector to partner with Government if they are to reduce the cost of setting up renewable energy projects.

Recently, REA acquired a US$26.5 million credit facility from the World Bank to increase electricity access across the country and provide last mile connections to the national grid to about 22,000 low-income households and about 1,000 medium and small-scale enterprises.
Mr Musonda said at a media briefing recently that currently, only a few players from the…http://epaper.daily-mail.co.zm/

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