Zambia woos Indian solar firms
Written by Millennium on June 27, 2019
SIMON MUNTEMBA writes
SOLAR companies in India should consider investing in Zambia where there is power deficit, says Zambia’s High Commissioner to that country Judith Kapijimpanga.
Ms Kapijimpanga said Zambia had made energy tariffs cost reflective to attract private sector investment as well as to stabilize energy supply.
In a statement released by first secretary press and tourism at the Zambian Mission in India Bangwe Naviley, Ms Kapijimpanga invited Indian solar companies to bridge solar deficit gap in Zambia when she toured Goldi solar company in Surat city, in the Indian state of Gujarat.
She said Zambia had a potential to generate 6,000 megawatts of electricity but was currently producing 2,000 megawatts thereby creating opportunities for investment in the 4,000 megawatts deficit.
In response, Goldi company director Bharat Bhut said his company was interested in setting up a power plant if Government could sign a Power Purchase Agreement (PPA) for a long time such as 25 years.
Mr Bhut said he was impressed to note that Zambia had Zambia Development Agency (ZDA) to offer free support services in land acquisition, immigration, company registration and incentives among others.
He said a 50 MW plant would be ideal as a trial using private capital.
Zambia High Commission recorded $100 million in the first half of the year 2019 from three companies that started operations among them Prasad seeds, Vagmi cottons and Om Rollers while total investments from India now stands at $8 billion.