ENEL signs $40 million IDC deal in Zimbabwe

 In news

ENEL Green Power has signed a US$40 million financing agreement with the Industrial Development Corporation (IDC) for the development of the 34 megawatts Ngonye solar power plant in the Lusaka South Multi-Facility Economic Zone (LS MFEZ).Of the total amount, the large chunk of up to US$12 million will be financed by International Financing Corporation (IFC) Canada Climate Change Programme while the European Investment Bank will put in about US$11.75 million and US$10 million will be sourced from IFC.

The Ngonye Solar Plant will be owned by a special purpose vehicle in which Enel will hold 80 percent shareholding while IDC will have a 20 percent minority stake. Source : Zambia Daily Mail Limited

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search