Neonen Looking for Partnership Opportunities for Hydro Projects in Zambia

  • French IPP, Neoen is interested in partnering with hydro developers with a view to participating to the GetFIT Zambia hydro tender.
  • Neoen is the leading independent French producer of exclusively renewable energy (solar, wind and battery storage).

A fast-growing company, Neoen is the leading independent French producer of exclusively renewable energy (solar, wind and battery storage), and among the most dynamic in the world, with over 2GW of assets in service or under construction worldwide and over 1GW of projects secured. Neoen is a responsible company with a long-term outlook in line with the interests of all involved in its projects. Neoen owns all or a majority of shares in all its power plants.

Neoen has been present in Zambia since June 2016, when it was awarded the right to develop, finance, construct and operate the Bangweulu solar project, a 54,3 MegaWatt solar photovoltaic power plant. A Power-Purchase Agreement was signed with ZESCO, under which electricity will be provided at the record-low tariff of 6$c/kWh for 25 years. IFC and OPIC provide $39 million of senior debt, and $21M million of equity are provided by Neoen and its co-shareholders First Solar and IDC. The development phase of the Bangweulu solar project lasted until December 2017, and construction of the project commenced thereafter and is now in its final stages.

Neoen is interested in partnering with hydro developers with a view to participating to the GetFIT Zambia hydro tender. Neoen has no previous experience in hydro projects, but developers would benefit from previous Zambia experience, their expertise in non-recourse project-finance deals and the presence of their business development, technical and finance teams locally.

All interested parties can get in touch with NEOEN representative Mr. Mathieu Legouix via email Mathieu.LEGOUIX@neoen.com

Author: GBA News Desk

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