Posted on : 29-05-2017 | Back | Print
African Development Bank -AfDB has identified Development Bank of Zambia- DBZ as a channel to invest in small off - grid energy projects in Zambia.

AfDB Vice-President for Power, Energy, Climate and Green Growth, AMADOU HOTT says the move will accelerate implementation of projects as time is lengthy when AfDB is directly involved.

MR. HOTT says AfDB is working with the Green Climate Fund to bring in money for small off grid projects and for the Renewable Energy IPP programme.

The AfDB Vice President has also praised Zambia for taking a painful decision to increase electricity tariffs by 75 percent saying more investments will be done in the energy sector because of the cost reflective tariffs.

He says he will take it personal to publicise to key investment players convincing them to get to Zambia which now has cost reflective tariffs.

MR. HOTT said this when he met Finance Minister FELIX MUTATI at an AfDB Annual Meeting side-line event in GUJARAT, India.

And Finance Minister FELIX MUTATI says the Minister of Energy will soon take the Renewable Energy Feed-In Tariff- REFIT to Cabinet to provide clarity on solar and other renewables.

MR. MUTATI says the REFIT exercise has been executed with support from the World Bank.

The Cabinet Minister says the move will encourage investors to invest in renewable energy especially in rural areas through mini grids.

"Let me empathise that Zambia is taking steps to attract investment in the energy sector to spur economic growth," said Mr MUTATI.

Issued by:
Bangwe Naviley
First Secretary [Press and Tourism]
New Delhi, India

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