Zambia’s High Commissioner to India has invited solar companies in India to consider investing in Zambia where there is power deficit because India now has surplus solar energy.
Speaking when she toured Goldi Solar Company in Surat City, in the Indian State of Gujarat, Ms Judith Kapijipnanga said Zambia has potential to generate 6000mw of electricity but was currently producing 2000mw thereby creating opportunities for investment in the 4000mw deficit.
“Zambia has made energy tariffs cost reflective in order to attract private sector investment in order to stabilise energy supply,” Mrs. Kapijimpanga said.
And Goldi Company Director Bharat Bhut said his company was interested in setting up a power plant in Zambia if Government could sign a Power Purchase Agreement (PPA) for a long time such as 25 years.
“I am impressed to note that Zambia has Zambia Development Agency (ZDA) to offer free support services in land acquisition, immigration, company registration and incentives among others,” Mr. Bhut said.
He said a 50mw plant would be ideal as a trial using private capital.
Zambia High Commission recorded US$100 million in the first half of the year 2019 from three companies that started operations among them Prasad Seeds, Vagmi Cottons and OM Rollers while total investments from India now stood at US$8b.