ZDA Signs US$450 Million IPPA for Ndola Thermal Power Plant
Ndola Vioqua Energy to Develop 450MW Thermal Power Plant Under US$450M Zambia Deal
The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with Ndola Vioqua Energy Company Limited for the development of a US$450 million, 450-megawatt (MW) thermal power plant in Ndola.
The project will be implemented in two phases and is expected to strengthen Zambia’s baseload power generation capacity as the country works to expand electricity supply.
Copperbelt Energy Corporation (CEC) is expected to serve as the off-taker for electricity generated by the plant.
Speaking during the signing ceremony, ZDA Director General Albert Halwampa said the project would contribute to Zambia’s efforts to increase national power generation capacity to 10,000MW.
The development is expected to create approximately 640 jobs during construction and plant operations, while also generating opportunities for local suppliers, contractors and service providers.
Ndola Vioqua Energy Director Li Zhilim outlined the company’s implementation plans and the expected economic benefits of the project.
The signing of the IPPA provides an investment protection framework for the development and supports Zambia’s efforts to attract long-term private investment into energy infrastructure.
The project comes as rising electricity demand, particularly from the mining and industrial sectors, continues to drive investment in additional generation capacity.
Once developed, the 450MW facility will add to Zambia’s power generation portfolio and contribute to efforts to improve the availability and reliability of electricity for industrial and commercial users.
