JACK ZIMBA, Lusaka
ZESCO Limited says it plans a US$6 billion expansion of its generation, transmission and distribution infrastructure over the next decade.
The power utility, which has been dogged by generation challenges, mainly caused by effects of climate change, said it has identified the public private partnership model as a means of expanding and diversifying its power generation portfolio, with targeted investments in renewable energy sources such as solar, wind and biomass.
Last month, Zesco signed a US$2 billion solar deal with the Gulf’s MASDAR, which is one of the world’s leading companies in renewable energy.
The deal was clinched by President Hakainde Hichilema, who also oversaw its signing in Abu Dhabi, United Arab Emirates.
“The corporation is therefore appreciative of President Hakainde Hichilema’s support to drive Zambia’s aspirations to increase installed power generation and diversification by promoting partnerships and investments that will see the first ever US$2 billion direct investment from the United Arab Emirates CLICK TO READ MORE