Zesco, the Zambian state-owned power utility, and Masdar, the United Arab Emirates’ renewable energy firm, have signed an agreement to develop solar projects worth $2 billion.
The two companies would form a joint venture to facilitate investment in Zambia’s renewable energy. The project will begin immediately with the gradual installation of 500 MW. Once completed, the projects would add 2,000 MW of electricity in the country within the next few years.