AfDB, others ink US$142m power deal for Zambia
23 April 2014
The African Development Bank (AfDB), Dutch Development Bank FMO, Development Bank of Southern Africa and Propaco of France on Wednesday signed a US$142-million loan to develop the 120-megawatt Itezhi Tezhi power project in Zambia.
It is the first public-private partnership energy project in Zambia and is being developed jointly by TATA Africa and the Zambia Electricity Supply Company (ZESCO) as an independent power producer, and the Itezhi Tezhi Power Company (ITPC).
The permanent secretary for energy Charity Mwansa said the project would improve the quality and reliability of power supply in Zambia and is expected to create at least 460 new jobs.
AfDB resident representative to Zambia, Freddie Kwesiga said that bank´s contribution to the financing package amounted to US$35.5 million and thanked the Zambian gov ernment for its role in ensuring development and financial closure of the project.
The proposed power station will be built at the Itezhi-Tezhi Dam on the Kafue River in west-central Zambia.