Chikwanda upbeat on energy investment prospects
THE continued expression of interest from various prospecting investors wishing to invest in the country’s energy sector shows that the country has a bright future, says Energy Forum Zambia (EFZ) chairperson Johnstone Chikwanda.
Mr Chikwanda said it could not be over emphasised that the energy sector was critical to Zambia’s developmental agenda.
The forum, he said, was cognisant of the fact that Sub-Sahara Africa (SSA) and in particular Zambia had been growing at a pace that was more than the growth in electricity generation.
He commended the Government for its continued efforts to attract investors as well as embracing an open door policy.
Mr Chikwanda said the energy sector was among sectors that Government could leverage to ensure Zambians were empowered and enjoyed equitable participation in the sector because of its strategic relevance and readily available market.
He said the forum would continue to lobby and support good policies aimed at taking the sector to another level.
The expert said the energy sector, therefore, played a critical role in countries' efforts to develop and implement long-term strategies to meet climate goals.
He said it was for that reason that stakeholders should not relent in sensitising consumers on saving energy because its absence could have an impact to livelihood.
His comments follow plans by Turkey’s Cora Energy, a solar energy solutions provider, to invest US$70 million in a 50 megawatt (MW) solar project in Zambia.
Cora Energy chief executive officer, Servet Cora, said the first phase of the project would involve installation of 25 MW within the first three months.
Zambia’s Ambassador to Turkey, Joseph Chilengi disclosed that Government was now diversifying the country’s energy mix from hydro-electricity generation to renewable energy such as solar.
He said the unprecedented energy deficit arising from climate change that Zambia was struggling with provided immense business and investment opportunities in solar energy.