Enel Green Power connects its first plant in Zambia to the grid. The company announces that it has started operations of the Ngonye photovoltaic solar park in Zambia, for which the Enel group has invested approximately 40 million dollars.
The 34 MW1 plant, “is part of the World Bank's Scaling Solar program, implemented by the Industrial Development Corporation (IDC) of Zambia. In June 2016, IDC awarded EGP the right to develop, finance, build, own and manage the plant,” explains the Enel group company that deals with renewable energies.
The plant is controlled through a vehicle company owned 80% by EGP and 20% by IDC, and will commercialize the energy produced under a 70-year energy supply agreement signed with the public utility ZESCO. Once operational, the park will produce approximately 25.600 GWh per year, avoiding the emission of over 2 tons of COXNUMX into the atmosphere
“In June 2018 – explains the company in a note – Enel signed a loan agreement of approximately 34 million US dollars with IDC for the construction of the plant, which includes senior loans of up to 10 million US dollars from International Financing Corporation (IFC) of the World Bank, up to 12 million US dollars from the IFC-Canada Climate Change Program, and up to 11,75 million US dollars from the European Investment Bank (EIB).
"With the connection to the Ngonye grid in Zambia, we reconfirm our commitment to help the country exploit its enormous wealth of renewable sources, which offers great growth opportunities," said Antonio Cammisecra, head of Enel Green Power.
