4 June 2010 – Zambia is planning to build a new power plant, a project which should be completed in 2016 and which will add 120 MW to the country’s power grid, which currently generates at 1 400 MW.
Zambia’s private Lunsemfwa hydro power company and InfraCo, a European-funded infrastructure project developer in sub-Saharan African, will develop the plant as a joint venture. Katai Kachasa, Lunsemfwa general manager said the project would be financed through equity and debt and actual construction was scheduled for May 2012 to April 2016.
"The feasibility studies will start next month and we expect this process to be concluded by June 2011. The project is estimated to cost between $220-million and $275-million depending on the final design," stated Kachasa this week
To meet rising energy demand with anticipated higher mining output, Zambia will issue an international bond of $1-billion to raise money for power projects and other infrastructure, the minister of finance said last week.
Zambia is also planning to construct the 600 MW Kafue Gorge Lower hydropower plant, for an estimated $1,5-billion as well as private sector-driven projects like the Muchinga power project and the 218 MW Kalungwishi hydroelectric project.