· Enel has been awarded the right to develop, finance, construct, own and operate the 34 MW Mosi-oa-Tunya PV solar project in Zambia which is expected to produce around 70 GWh per year
· Enel will be investing approximately 40 million US dollars in the construction of the solar facility, which will be supported by a 25 year-long PPA with the state-owned utility ZESCO
Rome, June 14th, 2016 Enel, acting through its renewable energy divison Enel Green Power (EGP), has been awarded the right to develop, finance, construct, own and operate a 34 MW1 PV solar project in Zambia following the Scaling Solar programme first round tender launched by the state-owned investment holding company Industrial Development Corporation Limited (IDC). Mosi-oa-Tunya, which is located in Lusaka South Multi-Facility Economic Zone in southern Zambia, marks the entry of Enel in the countrys renewables market.
This is a landmark award for EGP, underlining the consistent development of a gradually and well planned expansion in selected areas of the African continent where the company can play a key role in providing smart, efficient and sustainable energy solutions, said Francesco Venturini, Head of Enels Global Renewable Energies division, Enel Green Power. Our entry into Zambia a country offering a very attractive investment proposition is another step forward in this respect and we are proud to contribute to the Scaling Solar programme, one of the best-designed schemes for renewables in Africa.
Enel will be investing approximately 40 million US dollars in the construction of the new PV plant, as part of the investment programme indicated by the companys current strategic plan. The project will be supported by a 25 year-long power purchase agreement (PPA) for the sale of all the energy generated by the plant to the state-owned utility ZESCO. The project, which will be owned by a special purpose vehicle (SPV) in which IDC will maintain a 20% minority stake in line with tenders regulation, is expected to enter into operation in the second quarter of 2017 and will generate around 70 GWh per year.
1 DC capacity, equal to 28 MW AC.
Zambia is characterised by a strong growth in electricity consumption (with an average of around 5-6% per year) and the need to diversify its energy generation mix which is dominated by hydro. The country also aims to increase the security of supply, improving service quality and encouraging the electrification of rural areas. In this context, Zambias government has launched a set of initiatives to promote the development of generation capacity from renewable sources, focusing in particular on photovoltaic power, with the goal of installing up to 600 MW within the next two to three years. Round 1 of the Scaling Solar programme carried out by IDC is part of these initiatives and provides for the development of two PV projects with a total capacity of up to 100 MW; IDC has structured the tender according to the Scaling Solar initiative developed by the World Bank, with the International Finance Corporation (IFC) acting as advisor.
All Enel press releases are also available in smartphone and tablet versions. You can download the Enel Corporate App at Apple Store and Google Play.
Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014