PPA signature in Zambia

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PPA signature in Zambia

March 16, 2017 Anand Gupta

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March 16, 2017 Anand Gupta

Neoen signed on Friday, March 3rd, in Lusaka – Republic of Zambia – a 25 years PPA (Power Purchase Agreement) with ZESCO (the Zambian national utility), for a 54MW photovoltaic power plant.

This project was awarded to the consortium comprised of Neoen and First Solar at the historically low price of $6c/kWh in the framework of the Scaling Solar program, developed by the World Bank Group (IFC) and whose roll-out took place in Zambia following his Excellency the Zambian President Edgar Chagwa Lungu’s initiative in 2015.

The power plant, representing an investment of $60m, will be built and operated in partnership with the Industrial Development Corporation (IDC), the Zambian public investment fund, and will be the first utility scale photovoltaic power plant in the country.