Enel, through Enel Green Power (EGP), was awarded the right to develop, finance, construct and manage the project for the construction of a 34 MW solar photovoltaic plant in Zambia, following the first tender of the program for the development of the Solar Scaling Solar promoted by the industrial development company of Zambia Industrial Development Corporation Limited (IDC).
Mosi-oa-Tunya is located in the Lusaka South Multi-Facility Economic Zone, in southern Zambia and marks Enel's entry into the country's renewable energy market. “Our success in this tender represents a milestone for EGP which highlights the consistency of a gradual and planned expansion in certain areas of the African continent where the Group is able to play a key role in guaranteeing smart, efficient and sustainable energy solutions” , says Francesco Venturini, head of Enel Green Power, Enel's global renewable energy division.
For the construction of the plant, Enel will invest approximately 40 million US dollars, as envisaged in the investment programs of the latest strategic plan. The project will be able to rely on the 25-year supply agreement (PPA) which provides for the sale of all the energy produced by the plant to the state utility Zesco. The project, owned by the specially created special purpose vehicle (SPV) in which IDC will have a minority stake of 20%, as required by the tender regulations, is expected to start operating in the second quarter of 2017 and will generate approximately 70 GWh per year.
