Zambia Electricity Supply Corporation (ZESCO) has announced a bold initiative to invest in alternative energy sources, with an $89 million Solar Project taking center stage. Victor Mapani, the Managing Director of ZESCO, revealed the utility firm’s ambitious plans to diversify its energy generation portfolio, considering solar, nuclear, and geo-thermal options.
Addressing the media in Lusaka, Mapani outlined that the investment in alternative energy aligns with ZESCO’s Strategic Plan for the period 2023 to 2032. The Solar Project, costing $89 million, represents a significant step in embracing sustainable and eco-friendly energy solutions.
In addition to solar, ZESCO is actively exploring nuclear and geo-thermal sources as part of its long-term energy strategy. Mapani emphasized the importance of seeking diverse and environmentally conscious alternatives to meet the growing energy demands of the nation.
Furthermore, Mapani highlighted ZESCO’s commitment to unlocking the potential of the Northern Circuit for hydropower generation. The region’s abundant rainfall pattern positions it as a promising area for harnessing hydropower resources, contributing to the country’s energy self-sufficiency.
On the financial front, Mapani provided an update on ZESCO’s efforts to settle outstanding debts, revealing that the corporation has paid $600 million of the $1.7 billion owed to private power generators as of December 2021. This financial commitment underscores ZESCO’s dedication to honoring its obligations and fostering sustainable relationships within the energy sector.
Source: Lusaka Times
