Business

State urged to promote local, foreign investor partnerships

KALONDE NYATI, Lusaka
ENERGY Forum Zambia chairperson Johnston Chikwanda says Government should promote partnerships between local and foreign investors by giving power purchase agreements to investors willing to partner with local entrepreneurs to enable them benefit from the energy sector.
Mr Chikwanda said with the energy crisis presenting investment opportunities, Government should ensure that the opportunities benefit local investors by encouraging partnerships in the development of various power projects.
“The crisis has delivered a lot of business opportunities. This is the wave which will produce the next cycle of millionaires and if Government is to exploit this phase, no foreign company must get a power purchase agreement without partnering with local people. Once we are out of this cycle of opportunities, the next cycle of opportunities is too remote to foresee,” he said in response to a press query.
Highlighting the performance of the energy sector this year, Mr Chikwanda said the flagging off of the construction of phase one 100MW solar power plant at the Lusaka South Multi-facility Economic Zone will go a long way in addressing power outages and in the diversification of sources of electricity.
“President Lungu laid a foundation stone and flagged off the construction of phase one 100MW of solar power plant at the Lusaka South Multi-facility Economic Zone. This was a demonstration of political will to diversify the energy mix and thus embark on delivering the country from servitude of hydro-electric generation,” he said.



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