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Zambia to commision 50 MW solar project in September

Zambia is set to complete its first large-scale 50MW solar power generation plant by September this year. This comes as the nation battles a power deficit which threatens industrial output.

The state-owned Industrial Development Corporation (IDC)  spokes person Namakau Mukelabai ,said,the US $60m project in Lusaka is being financed through a combination of equity and debt.The IFC and OPIC are providing the debt while the shareholders Neoen/First Solar and IDC have provided the equity ,referring to the the World Bank’s financing arm and a US government agency that helps American businesses invest in emerging markets.

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