- Serengeti Energy and Western Solar Power have signed and implementation agreement for the 32MW Ilute solar PV project in Zambia.
Serengeti Energy Ltd and Western Solar Power Ltd are leading the project development in Zambia’s Sesheke District. Competitively selected by GreenCo Power Services Ltd (GreenCo), this project will serve as a pilot for GreenCo’s energy aggregator model under the Zambia Electricity Supply Corporation Limited (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 (SAPP) Day-Ahead Market.
The investment in the project is estimated at USD 37 million (EUR 35.8m), with USD 8 million secured in the form of a concessional loan in October from the African Development Bank.
“With key project documents now signed, Ilute Solar Ltd is projected to achieve financial close and start construction in the first half of 2025,” Serengeti Energy said in a statement.
Author: Bryan Groenendaal
