Zambia’s CEC outlines $2.5 billion of hydro investment

• 9 years ago (2014-06-19)
• Junior Isles

Africa 303

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Zambia’s Copperbelt Energy Corporation (CEC) is planning to invest $2.5 billion in a new 700-800 MW hydroelectric power plant on the Luapula River in Luapula Province.

CEC has already spent roughly $2 million on feasibility studies for the project and, once completed, the plant is expected to go some way to resolving the long standing electricity shortages in Luapula Province.

“As CEC, we have embarked on numerous projects aimed at fostering development in the nation, one of them is the power generating project on the Luapula River, we have already concluded the studies on the project,” said CEC managing director of operations, Owen Silavwe.

CEC is currently waiting for the Zambian Government’s approval on parts of the project before construction can begin.

Mr Silavwe also revealed that CEC has spent $22 million for preparatory work on the smaller 40 MW Kabompo power generation project in Zambia’s North-Western Province. CEC plans will invest $200 million total in the project in Kabompo and expects major work to start next year.

CEC also plans to expand its operations beyond Zambia’s borders, according to Mr Silavwe. They have signed a deal worth $220 million with the government of Sierra Leone to build a 128 MW power plant in Freetown.