World Bank Mandates 500MW of Solar for Zambia
Southern African nation Zambia has this week received the greenlight from the World Bank to receive funding and support for the development of 500 MW of new solar PV capacity.
Having last year partnered with the World Bank’s Scaling Solar program for the development of 50 MW of solar, this second mandate is set to accelerate the country’s renewable energy aims. Last year’s tender attracted a tariff of $0.0602/kWh, which is a non-indexed tariff equivalent over the contract life to a price as low as $0.047/kWh. The new mandate will begin with an initial procurement round of 200 MW, and in March the Request for Qualifications for round two will be released.