MUFULIRA - The Mineworkers Union of Zambia (MUZ) has signed a Memorandum of Understanding (MoU) with SANCO Solar for the development of a 120-megawatt solar power plant in Mufulira District on the Copperbelt.
The first phase of the project is valued at approximately US$100 million and is expected to be completed within 18 months.
Speaking to ZNBC News after the signing ceremony in Livingstone, MUZ President Joseph Chewe said the project demonstrates the mining sector’s commitment to supporting national development.
Mr. Chewe said investment in renewable energy infrastructure will benefit both mining operations and households once the power generated is connected to the national electricity grid.
Meanwhile, SANCO Solar Managing Director for Africa Werner Wirth said suitable land for the project has already been identified, while technical designs are currently underway following the signing of a Power Purchase Agreement.
MONASA Advisory and Associates Managing Director Jason Kasuto said the transaction was made possible through collaboration with strategic partners, including the Mine Workers Union of Namibia and its commercial investment arm.
Mr. Kasuto said the project demonstrates how strategic partnerships can mobilise investment into productive sectors of the economy while supporting Zambia’s energy security and economic development.
The planned solar power plant is expected to contribute to the diversification of Zambia’s energy mix and increase renewable electricity generation on the Copperbelt.
Source
ZNBC News
By:
Angela Hanuka