Canadian renewable energy company, SkyPower Global, has announced the signing of a 1000 MW power purchase agreement (PPA) with Zambia’s state owned utility Zambia Electricity Supply Corporation (ZESCO).
The agreement with ZESCO follows days after the Canadian developer signed a 500 MW PPA with Zimbabwe’s Zimbabwe Electricity Transmission and Distribution Company (ZETDC) at the recently concluded World Future Energy Summit.
Zambian authorities lauded the planned 1GW project dubbed “Green Giant Zambia”, saying it aligns with the company’s Integrated Renewable Energy Plan, and is designed to significantly enhance Zambia’s renewable energy capacity.
“The Green Giant Zambia project is a crucial component of our Integrated Renewable Energy Plan, especially in the context of our current drought owing to climate change,” said Hakainde Hichilema, President of Zambia.
“This initiative aims to substantially increase our renewable capacity to address both current and future energy needs as Zambia aims to increase industrial productivity and fulfill our aspiration to attain over 3 million metric tonnes of annual Copper production,” Hichilema added.
The planned Green Giant Zambia project has the potential to supply electricity to approximately 4 million homes once completed.
SkyPower’s project in Zimbabwe, dubbed Green Giant Zimbabwe planned to have 500 MW will be the largest solar project in the history of the country. The project has the potential to power approximately 2 million households.
“We are proud to kick off the initial phases of the Green Giant project at this prestigious summit. This partnership exemplifies our dedication to promoting sustainable energy development globally. Upon completion, this project will stand as a testament to Zimbabwe’s commitment to renewable energy and economic growth,” said Kerry Adler, CEO of SkyPower.
Zimbabwe’s renewable energy market has largely been overlooked by investors due to the political and financial risk perceptions associated with investing in the country. The agreement with SkyPower could prove to be significant if the project is implemented, and could help catalyse the market for more renewable energy investment.
Commenting on the landmark agreement, Edgar Moyo, Zimbabwe’s Minister of Energy said; “This is a momentous day for Zimbabwe, demonstrating our commitment to transforming our energy sector and ensuring reliable power for our people.”
The Managing Director of the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) weighed in saying; “this is a momentous day for Zimbabwe, demonstrating our commitment to transforming our energy sector and ensuring reliable power for our people”
