solar
solar

The Industrial Development Corporation (IDC) invited bids from firms on the development of two utility-scale solar power projects of up to 50 megawatts each as part of efforts to move away from hydro power plants.

solar
solar
The tender initially attracted 48 developers of which 11 were prequalified for the subsequent bidding process.

But the statement noted that bids from seven firms were opened on May 27 and that the winning bidders will be selected on the basis of the lowest proposed tariffs.

The statement stated that the two provisional winning tariffs were both below those typically offered under unsolicited proposals from solar developers in Zambia or elsewhere in Africa.

The two projects will be the first large-scale solar projects in the country and the inaugural projects for the World Bank Group’s Solar program.

The International Finance Corporation (IFC), a member of the World Bank Group, acted as lead advisor to the Zambian government and since October 2015 have helped run the tender process for the two projects.

Andrew Chipwende, the chief executive officer of the IDC said the organization was delighted with the high-level of competition and the quality of bidders that the project has delivered.

The two projects were expected to help Zambia overcome its power challenges experienced since June last year when water in its key reservoirs for hydro power dropped.

The IDC is an investments holding company wholly owned by the Zambian government and was incorporated in 2014.

Scaling Solar is a World Bank Group solution that makes it easier for governments to quickly procure and develop large-scale solar projects with private financing. It is designed to allow governments to get fast, affordable, utility-scale power up and running within two years of engagement. Enditem

Source: Xinhua/NewsGhana.com.gh

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