By JAMES  MUYANWA –
COPPERBELT Energy Corporation (CEC) has reportedly reached a deal with Namibian power utility NamPower for the development of a protracted US$1.2 billion gas-to-power plant in Namibia.
According to Reuters NamPower recently reached the deal with CEC to develop the much-delayed plant in the sparsely populated desert country.
CEC will take a 30-per cent stake in the Kudu project near Oranjemund in south-western Namibia that will pump gas from the Kudu field about 170 kilometres offshore to a combined cycle gas power plant.
CEC will also buy up to 300 megawatt of electricity from the plant to supply mines in Zambia, Africa’s leading copper producer.
Like many countries in the region Zambia has deficit in the electricity supply resulting in incessant load-shedding which causes power outages.
Nampower will source one billion dollar for the project while CEC is expected to contribute up to $100 million.
Last weekend CEC said it was developing ambitious projects aimed at enhancing its local and foreign investment portfolio.
CEC managing director – operations, Owen Silavwe who unveiled a robust investment programme during the Investor Open Day at Edinburgh Hotel said the company was poised to derive fruitful benefits from the various expansion activities.
CEC was exploiting various investment opportunities through the many expansion programmes whose success was meant to benefit the company and its shareholders.
On the international energy market, apart from Namibia, CEC has developed new business projects under CEC Africa in Nigeria and Sierra Leone with diverse investment levels.