News flash
- The African Development Bank has approved an $8 million concessional loan to support the construction of a 25MW Solar Photovoltaic power plant in Zambia.
- The financing for the Ilute Plant will be sourced from the Sustainable Energy Fund for Africa (SEFA), a multi-donor Special Fund managed by the Bank.
The venture has faced rising costs associated with the COVID-19 pandemic and other challenges. Serengeti Energy Ltd(link is external) and Western Solar Power Ltd(link is external) are leading the plant development in Zambia’s Sesheke District. Competitively selected by GreenCo Power Services Ltd(link is external) (GreenCo), this project will serve as a pilot for GreenCo’s energy aggregator model under the Zambia Electricity Supply Corporation Limited(link is external) (ZESCO) open grid access framework. Acting as an intermediary off-taker, GreenCo will purchase the generated electricity through a 25-year Power Purchase Agreement and sell it to the Southern African Power Pool Day-Ahead Market.
Author: Bryan Groenendaal
