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The Industrial Development Corporation Limited (IDC) has reportedly signed a Heads of Terms agreement with Solarcentury Africa Limited to co-develop a 67-megawatt peak (MWp) solar power plant in Zambia.
The plant, which will connect to the ZESCO Limited grid near Chisamba, is expected to support Zambia’s ongoing efforts to mitigate power shortages with sustainable energy solutions.
IDC Chief Executive Officer, Cornwell Muleya, said that the partnership would deliver a project with a significant impact on Zambia’s energy landscape.
“This project is a testament to our commitment to supporting Zambia’s industrialization agenda and reducing the country’s reliance on fossil fuels.
“Furthermore, this project aligns perfectly with Zambia’s Integrated Resource Plan (IRP), which aims to increase the share of renewable energy in the country’s energy mix,” Muleya said.
He further added, “By harnessing Zambia’s abundant solar resources, we are contributing to a more diversified and sustainable energy sector, which will drive economic growth, reduce greenhouse gas emissions, and improve energy security for generations to come.”
Commenting on the development, Solarcentury Africa Chief Executive Officer, Jason De Carteret, reportedly said that Zambia’s urgent need for reliable power makes the project a crucial step toward energy security.
“We are very excited to partner with IDC to develop sustainable solutions that support Zambia’s economy and industrial sector. We look forward to working closely with the IDC to bring this project to life and to further our commitment to renewable energy development in Africa,” De Carteret said.
Under the partnership, IDC claimed to have already secured the project site and conducted initial technical studies, while Solarcentury Africa will be responsible for completing the development, design, funding, and delivery of the plant.
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