Enel Breaks Ground On 34 MW PV In Zambia

Enel’s 34 MW Ngonye Solar PV Plant Enters Construction In Zambia With Investment Worth $40 Million; Project Completion Expected In Q1/2019 
02:35 AM (Beijing Time) - 23. August 2018
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Key Takeaways

  • Enel has started construction of its first PV plant in Zambia
  • The Ngonye Solar PV plant has a capacity of 34 MW
  • Project construction is expected to cost $40 million and is estimated to enter operations in the first quarter of 2019
  • Enel will be the majority shareholder owning 80% stake through special purpose vehicle, IDC will hold remaining 20%
  • The Italian energy company won this project under the Scaling Solar program of the World Bank

Italy’s Enel Green Power (EGP) has started constructing the 34 MW Ngonye Solar PV plant, that marks its entry into Zambia. Project completion is expected in Q1/2019.

EGP will hold 80% in the project through its special purpose vehicle, with the remaining 20% owned by Industrial Development Corporation (IDC) of Zambia. Zambian utility ZESCO will purchase the solar power generated under a 25-year PPA (see Enel Full Steam In Solar). On completion, it is expected to generate around 70 GWh annually.

Enel estimates an investment of around $40 million in construction of this plant. It has a financing agreement with IDC for $34 million, including senior loans of up to $10 million from the IFC, $12 million from the IFC-Canada Climate Change Program, and up to $11.75 million from the European Investment Bank (EIB).

The Italian company won this project under the Scaling Solar program of the World Bank.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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