Zambia’s national utility ZESCO has entered into a 25-year power purchase agreement (PPA) with Hungary-based energy and climate infrastructure company EnerSynk Group for a planned 500 MW solar project.
Under the terms of the PPA, the solar plant, to be developed in Zambia’s Cooperbelt province, will supply renewable electricity to Zambia’s national power system once completed.
A statement published by EnerSynk explains the PPA enables the company to advance the development into its next phase, including technical studies, environmental and regulatory processes, financing and implementation planning.
The company added that it intends to progress the project in phases, allowing technical development, financing and construction activities to be structured around an overall implementation programme.
Jason Temasfieldt, EnerSynk Group Founder and Executive Chairman, said the signing of a PPA is one of the most important commercial milestones for a project of this scale.
“Our focus now is disciplined execution,” he said. “There is still significant work ahead, but this agreement provides a strong platform from which to advance the project.”
Temasfieldt added that EnerSynk’s commitment to Zambia extends beyond the development of a single energy project.
“We see Zambia as a long-term energy market, not a one-project opportunity. Our objective is to build infrastructure that is bankable, scalable and aligned with the country’s long-term electricity needs,” he added.
Zambia is currently one of Africa’s most active solar markets. The country has been undergoing a market liberalisation making it one of the most attractive markets to private sector renewable energy developers.
Recent figures published by the country’s Ministry of Energy put Zambia’s operational solar capacity at 841 MW, with analysis suggesting the country is on track to surpass 1 GW of installed solar by the end of the year.
In May, the country’s largest solar site to date, the 136 MW Itimpi II plant, entered operation. In July, ZESCO doubled the capacity of its Chisamba solar power plant from 100 MW to 200 MW.
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