By MAIMBOLWA
MULIKELELA –
THE United State (US) government  will provide a grant of US$2 million to support the scaling solar programme in Zambia.
And the Government has announced its intention to offer its shareholding in each of the solar projects to Zambians through an initial public offering on the Lusaka Stock Exchange (LuSE).
Commerce, Trade and Industry Deputy Minister, Raymond Mpundu said this during the Zambia scaling solar bidders’ conference in Lusaka yesterday.
Mr Mpundu said President Edgar Lungu had directed the Industrial Development Corporation (IDC) to target the immediate development and procurement of up to 600 megawatts (MW) of solar photovoltaic power into the national grid.
“IDC, working jointly with International Finance Corporation (IFC) and Zesco, have commenced the development of two solar photovoltaic (PV) plants of 50 megawatts each for an initial total of 100 megawatts out of the targeted 600 megawatts,” Mr Mpundu said.
He said the two plants constitute phase one of the estimated $1.2 billion investment.
The development of new electricity sources would help increase the country’s export base while creating employment during construction, operation and maintenance.
On the shareholding, Mr Mpundu said IDC would own a minimum shareholding stake in each project on behalf of Zambians.
“I would like to formally announce Government’s intention to offer its shareholding in each of the solar projects to the Zambian public through an initial public offering on the LuSE as preferential offer to citizens,” he said.
IDC chief executive officer Andrew Chipwende said IDC, IFC and Zesco were working on round one of the 600MW scaling solar programme for Zambia.
Under round one, a total of 100MW would be procured from the private sector.
IDC has now issued the Request for Proposal to the pre-qualified bidders.