OPIC in $20 million solar project in Zambia

THE Overseas Private Investment Corporation (OPIC) has committed about US$20 million to finance Bangweulu Power Company Limited to construct a 55 megawatts (MW) solar power plant at the Lusaka South Multi-Facility Economic Zone.

Nearly 95 percent of Zambia’s power comes from hydro-power plants.

But, OPIC president Ray Washbume, who is in the country and toured Zambia’s first large-scale solar power facility, said the project will supplement the hydro- generated energy.

Mr Washbume said the development will support the country’s growing economy and create jobs. Source: Zambia Daily Mail Limited