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Zambia, UAE to develop $2 billion solar projects

World

18-01-2023 | 05:37

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Zambia, UAE to develop $2 billion solar projects

Zambia's state-owned power utility Zesco has signed an agreement with the United Arab Emirates' renewable energy company Masdar to develop solar projects worth $2 billion, the southern African country's President Hakainde Hichilema said on Tuesday.

The two companies will form a joint venture to facilitate investment in Zambia's renewable energy, he said in a statement.

The project will commence immediately, starting with the phased installation of 500 megawatts (MW).

"Once completed, the projects will result in an additional 2,000 megawatts of electricity in the country, within the next few years," Hichilema said.

Zambia has been rationing electricity supply following a big drop in water levels in lake Kariba, threatening hydropower generation which contributes more than 75 percent of the country's power output.

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