Zambia, UK move to actualize £2 billion green energy projects

President Hakainde Hichilema says government is determined to making Zambia an energy surplus nation.

“We are determined to not only be energy self-sufficient, but to have an energy surplus in order to export and earn our country foreign exchange income,” President Hichilema said.

He said with improved electricity generation, the country looked forward to an accelerated economic transformation where industry can work 24/7 and create more jobs for the citizen.

The President said this on Wednesday when he received a delegation of investors in the energy sector from the United Kingdom(UK) led by the UK High Commissioner to Zambia, Nicholas Woolley.

President Hichilema said the visit by the UK delegation was a show of interest to invest in various sectors of the economy as well as a culmination of the country’s strategic economic diplomacy efforts.

“During our trip to Glasgow, Scotland in November 2021 where we attended the COP 26 Climate conference, we put a strong case for accelerated investment, particularly in green energy,” he said.

President Hichilema said this led to the signing of a Green Growth Compact between Zambia and the United Kingdom valued at £1 billion .

“In today’s(Wednesday) meeting, not only did we move a step ahead in actualizing the agreement, we received confirmation of interest of energy investment amounting to over US$2 billion which will result in approximately 1,500 megawatts of green energy from solar, wind, hydro and geothermal sources,” he said.

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