Zambia’s ZESCO Collaborates With Masdar On Potential 2,500 MW Renewable Energy Deal
Zambia and the United Arab Emirates (UAE) have signed a Memorandum of Understanding and Joint Development Agreement (JDA) which will see ZESCO, the country’s state-owned electricity company, partner with MASDAR, a key investment funding entity of the UAE. The two parties will form a joint venture to develop and deploy large-scale solar projects across Zambia, with an estimated value of $2 billion. This is not a loan, but a capital injection in which the Zambian people, through ZESCO, will be partners in shareholding. The joint venture aims to initially develop…
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