Africa-Press – Zambia. President Hakainde Hichilema has reaffirmed the government’s unwavering commitment to boosting the nation’s power generation capacity to meet the burgeoning demand from vital sectors such as mining and agriculture.
Addressing the pressing issue of Zambia’s power deficit, President Hichilema hailed the strides made by investors in the country’s solar energy sector as a significant step forward in addressing the energy shortfall.
These remarks came during a courtesy visit by 7YRDS Energy, a prominent German company, at State House. The company is poised to invest in solar energy projects in Kafue and Sesheke, located in the Western Province of Zambia.
President Hichilema commended 7YRDS Energy for choosing to invest in Zambia, particularly in the solar energy sector, noting that such investments would spur economic growth across various sectors, including mining and agriculture. He emphasized Zambia’s trajectory of economic development across multiple sectors and highlighted the pivotal role that investments in solar energy could play in realizing ambitious targets, such as the projected three million tonnes of copper production per year.
Furthermore, President Hichilema disclosed the government’s commitment to streamlining business operations to create a conducive environment for investors. He reiterated the government’s readiness to collaborate with international partners to bolster investments in the energy sector, recognizing the indispensable role of sufficient energy in driving development, particularly in mining and other key sectors.
President Hichilema urged 7YRDS Energy to expedite negotiations with ZESCO, Zambia’s electricity supply company, for a power purchase agreement, stressing the urgency of increasing power generation capacity to meet growing demand.
Meanwhile, German Ambassador to Zambia, Anne-Wagner Mitchell, expressed Germany’s keen interest in investing in Zambia’s solar energy sector to support the country’s power needs in mining and agriculture. She revealed that 7YRDS Energy has already secured land for feasibility studies in Kafue and Sesheke districts, with a commitment of one million United States Dollars for the initial studies.
Founder and Managing Director of 7YRDS Energy, Philip Jansen, praised President Hichilema for his efforts in promoting Zambia as an attractive investment destination. He cited the recent visit by German President Frank-Walter Steinmeier as a catalyst for heightened interest in investing in Zambia. Mr. Jansen commended Zambia’s peaceful environment and commitment to the rule of law, which have bolstered its appeal to investors.
He affirmed his company’s dedication to expediting the project’s implementation, with plans for operations to commence as early as the first quarter of the following year.
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