Browsing: UAE solar projects in Zambia

Signing of MOU between Zambia and UAE to invest in the energy sector on January 17, 2023 .
  • Zambia’s state-owned power utility Zesco has signed an agreement with the United Arab Emirates’ renewable energy company Masdar to develop solar projects worth US$2 billion.
  • The project will commence immediately, starting with the phased installation of 500 megawatts (MW)
  • Zambia has been rationing electricity supply following a big drop in water levels in Lake Kariba, threatening hydropower generation which contributes more than 75 per cent of the country’s power output.

The United Arab Emirates’ government-owned renewable energy company, Masdar, and Zambia’s state-owned energy company, ZESCO, recently signed a Memorandum of Understanding (MoU) and a Joint Development Agreement (JDA) to develop 2 GW of solar energy in Zambia. The project, which is worth US$ 2 billion, will be developed in phases over the next five years, starting with the installation of 500 MW, President Hakainde Hichilema said.

“This is not a loan but a capital injection in which the Zambian people, …