Zesco has signed a Power Purchase Agreement (PPA) with Integrated Clean Energy Power Company Ltd (CiEG) to produce 2,400 Megawatts of renewable energy estimated at US$3.5 billion.<\/p>\n\n\n\n
CiEG is an investment development and Mergers and Acquisitions (M&A) of international projects arm for China Huadian Corporation, a global energy company and Chinese state-owned enterprise, the 3rd largest electricity power producer in the world.<\/p>\n\n\n\n
The pledged US $3.5 billion investment will be rolled out in phases of 600-800MW over a 3-year period in 4 provinces beginning this year with 300mw in Southern Province and 300mw in Central Province.<\/p>\n\n\n\n
This sizable Foreign Direct Investment (FDI) into Zambia from China is a testament of the reset and enhanced relations between the two countries for mutual benefit, which dates back to the two founding fathers: Chairman Mao and Dr. Kenneth Kaunda.<\/p>\n\n\n\n
The pledged investment comes at the back of the earlier investment of US$2.5 billion in 2,000MW of energy by Masdar from the United Arab Emirates.<\/p>\n\n\n\n
This is according to State House Chief Communications Specialist, Clayson Hamasaka.<\/p>\n","protected":false},"excerpt":{"rendered":"
Zesco has signed a Power Purchase Agreement (PPA) with Integrated Clean Energy Power Company Ltd (CiEG) to produce 2,400 Megawatts of renewable energy estimated at US$3.5 billion. CiEG is an investment development and Mergers and Acquisitions (M&A) of international projects arm for China Huadian Corporation, a global energy company and Chinese state-owned enterprise, the 3rd …<\/p>\n","protected":false},"author":3,"featured_media":3854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","content-type":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,30,20],"tags":[62,58,39,203,202,32],"class_list":["post-3853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-community","category-tech","tag-business","tag-community","tag-economy","tag-green-energy","tag-tech","tag-zambia"],"aioseo_notices":[],"yoast_head":"\n