ENEL and ZESCO sign PPA for 25 years

EGP (Enel Green Power) has signed a PPA for 25 years with Zambia’s state owned utility ZESCO for 34 MW Ngonye 1 PV solar project won in June following the first round tender of the Scaling Solar programme, which was launched by state-owned investment holding company IDC (Industrial Development Corporation Limited).

Enel will be investing approximately 40 million US dollars in the construction of the new PV plant, which is expected to generate around 70 GWh per year. Ngonye will be owned by a special purpose vehicle in which EGP will hold 80% and IDC (Industrial Development Corporation Limited) will have a 20% minority stake.

The first round of the Scaling Solar programme was part of these initiatives and provided for the development of two PV projects with a total capacity of up to 100 MW. IDC structured the tender according to the Scaling Solar initiative developed by the World Bank, with the International Finance Corporation (IFC) acting as advisor.

1 The project was known as Mosi-oa-Tunya when Enel was awarded the 34 MW in June 2016.