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Zambia Electricity Supply Corporation (ZESCO) has announced USD 89 million in solar projects as part of the government’s initiative to invest in alternative energy sources. ZESCO’s Managing Director, Victor Mapani, revealed the utility firm’s ambitious plans to diversify its energy generation portfolio, considering solar, nuclear, and geothermal options.
Zambia Electricity Supply Corporation (ZESCO) has announced USD 89 million in solar projects as part of the government’s initiative to invest in alternative energy sources. ZESCO’s Managing Director, Victor Mapani, revealed the utility firm’s ambitious plans to diversify its energy generation portfolio, considering solar, nuclear, and geothermal options. The investment in alternative energy aligns with ZESCO’s Strategic Plan for the period 2023 to 2032. The Solar Project, costing $89 million, represents a significant step in embracing sustainable and eco-friendly energy solutions. In addition to solar, ZESCO is actively exploring nuclear and geothermal sources as part of its long-term energy strategy.
Mapani emphasized the importance of seeking diverse and environmentally conscious alternatives to meet the growing energy demands of the nation. Furthermore, Mapani highlighted ZESCO’s commitment to unlocking the potential of the Northern Circuit for hydropower generation. The region’s abundant rainfall pattern positions it as a promising area for harnessing hydropower resources, contributing to the country’s energy self-sufficiency.
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On the financial front, Mapani provided an update on ZESCO’s efforts to settle outstanding debts, revealing that the corporation has paid USD 600 million of the USD 1.7 billion owed to private power generators as of December 2021. This financial commitment underscores ZESCO’s dedication to honouring its obligations and fostering sustainable relationships within the energy sector.
