Enel Unit Begins Building Its First Solar Park in Zambia
Enel Unit Begins Building Its First Solar Park in Zambia
(Bloomberg) -- An Enel SpA unit started construction of a 34-megawatt solar plant in Zambia, a first for the company in the African nation.
The Ngonye plant in the south should begin operating at the start of 2019, Enel Green Power said in a statement. The plant is supported by a 25-year power purchase agreement with state-owned Zesco Ltd.
Enel will invest $40 million into the project, mainly through a $34 million finance deal with Zambia’s Industrial Development Corporation. When fully operational, Enel expects it to produce 70 gigawatt-hours a year.
In 2016, 97 percent of Zambia’s energy generation came from hydro power, according to data from Bloomberg NEF.
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To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Rob Verdonck, Andrew Reierson
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