Japanese company to invest $200 million in solar energy
The Japanese company Univergy Solar has announced it will invest $200 million in Zambia to carry out two solar photovoltaic projects.
The investment will enable the new independent power producer (IPP) to build two photovoltaic solar power plants.
The first plant will be located in northern Zambia, with a capacity of 135 MWp. The second, with an expected capacity of 65 MWp, will be built in the copper belt province, a region known for its rich subsoil, located on the border with the Democratic Republic of Congo (DRC).
According to the government of Zambia, the solar projects will be implemented in collaboration with a Zambian company and are expected to create hundreds of jobs and business opportunities for local companies involved in the maintenance of solar parks and power plants.
Construction works will begin in January 2020 and will be completed “within six to eight months”, according to the company.
The government is counting on ongoing renewable energy projects to recover its energy autonomy. The projects are mostly developed by IPPs.
Zambia has recently faced an energy deficit of nearly 750 MW. Among the factors that justify this situation is the drop in the overall performance of the Kariba dam, one of the country’s main electricity suppliers.
The water level in the dam has dropped considerably, resulting in a significant decline in its performance. And the ongoing global warming may further complicate the situation.
Since 2017, however, the country has already raised prices for consumers by 75%.