Japan's Univergy to invest $200 million in Zambia solar power
Post date: 01/11/2019 - 10:26
The Hispanic-Japanese project developer Univergy is to invest more than $200 million in two solar power projects in Zambia with a combined capacity of 200 MW. According to news agency »Reuters«, Univergy will develop and implement a 135 MW project in northern Zambia and another 65 MW project in Zambia’s copperbelt. The company will sign a Memorandum of Understanding with the Zambian government to start work on the projects in the first quarter of 2020. The two projects were expected to be completed between six and eight months, says the article.
Zambia mainly relies on hydropower and has an electricity deficit of about 750 MW due to low water levels at generation plants after a severe drought hit power production. The country »is in talks with South African power utility Eskom to import 300 MW,« Energy Minister Mathew Nkhuwa said in September, adding that retail prices could double once imports begin.