NL extends US$3.3 million funding for solar power in Zambia
We are proud to announce that the Netherlands is bringing access to energy in Zambia one step through supporting a ground breaking solar tender in Zambia. Working with the Zambian Power Company, the Neoen and First Solar consortium will construct a new 47.5MWac facility, that will help the country cope with droughts and electricity access deficits. The consortium has set a new benchmark for solar tariffs in the Sub-Saharan Africa with tariffs as low as US$0.06cents/kWh, in a region where the average cost of energy is USD$0.13 cents. This truly will make access to energy a reality for many people.
The renewable project comes in at a time when Zambia, characterized by high dependence on hydropower, is experiencing lower than expected rain- fall leading to acute energy shortages and load-shedding of up to 10 hours a day. This is a severe barrier to the country’s economic development.
The Scaling Solar project is a World Bank Group initiative. It makes it easier for Governments to quickly procure and develop large scale solar projects with private financing.