info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from zambianeye
French Company Neoen's Zambian local unit, the Bangweulu Power Company Limited has unveiled a US$60 million solar plant, the first of its kind in Zambia.
The Bangweulu power company limited is 55.2% majority owned by Neoen.
Other shareholders are First Solar Inc, an American (Arizona based) photovoltaic manufacturer of solar panels and utility-scale PV power plants which holds about 25.15% ownership while the Zambian government investment arm, the Industrial Development Corporation (IDC) has the least stake of about of about 19.65%.
Bangweulu power is a special purpose vehicle that was formed to undertake the project and was later awarded the contract by the World Bank Scaling Solar program to undertake this project, considered the first of its kind in Zambia.
The company has finally completed the construction and will going forward operate a 55 MWp solar photovoltaic (PV) power plant at the Lusaka South Multi-Facility Economic Zone (LS-MFEZ).
Bangweulu power has signed a 25 year Power Purchase Agreement (PPA) with ZESCO, the integrated electricity utility company.
ZESCO, the Zambian electricity utility was the deal maker as all the financing and viability of this project hinges on the utility signing off the PPA, a key requirement for obtaining financing for any major power plant construction. ZESCO is reported to have signed for a tariff of US$60/MWh with Neoen’s Bangweulu Power.
The partner to IDC in the Bangweulu Power Company Limited, Neoen, is an independent power producer, generating electricity from renewable sources (solar, wind or biomass). Neoen develops, finances, builds and operates power plants and is active in France, Portugal, Australia, Mexico, Egypt, Mozambique, Jamaica, Zambia, Jordan and El Salvador.
The unveiled power plant covers an area of about 52 hectares and has been fitted with about 460,000 thin film modules from First Solar and 12 transformers.
The PV system has been connected to the national grid and the electrical energy will be evacuated through the Lusaka South MFEZ substation, via a 33kV underground cable.
