https://en.sputniknews.africa/20240712/zambia-mining-company-to-fuel-progress-with-300-mw-coal-fired-power-plant-1067471225.html
Zambia Mining Company to Fuel Progress with 300 MW Coal-Fired Power Plant
Zambia Mining Company to Fuel Progress with 300 MW Coal-Fired Power Plant
Sputnik Africa
In 1971, the Government of the Republic of Zambia created Maamba Collieries Limited (MCL) as a coal mine. MCL was privatized in 2010, and Nava Bharat Singapore... 12.07.2024, Sputnik Africa
2024-07-12T14:19+0200
2024-07-12T14:19+0200
2024-07-12T14:33+0200
sub-saharan africa
zambia
southern africa
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agreement
coal-fired power plant
copper
energy
business
electricity
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Zambia's MCL will build a 300 MW coal-fired power plant over two years, starting in August, its local shareholder ZCCM-IH announced.The country has been importing and rationing electricity after a drought hit hydropower generation, the main power source for Africa's second-largest copper producer.ZCCM-IH stated that Maamba had secured financing with anchor lenders for the plant's construction.Maamba has already signed a 20-year power purchase agreement with Zambia's state-owned ZESCO for the project. Additionally, Maamba set up its first 300 MW coal-fired power plant in 2016 under the initial phase of its power generation business.The new power plant will be identical to the existing plant and will consist of two generating units of 150 MW each, increasing the total number of generating units to four.
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zambia, southern africa, investment, agreement, coal-fired power plant, copper, energy, business, electricity
zambia, southern africa, investment, agreement, coal-fired power plant, copper, energy, business, electricity
Zambia Mining Company to Fuel Progress with 300 MW Coal-Fired Power Plant
14:19 12.07.2024 (Updated: 14:33 12.07.2024) In 1971, the Government of the Republic of Zambia created Maamba Collieries Limited (MCL) as a coal mine. MCL was privatized in 2010, and Nava Bharat Singapore Limited was appointed as a strategic shareholder, with Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) owning 35%.
Zambia's MCL will build a 300 MW coal-fired power plant over two years, starting in August, its local shareholder ZCCM-IH
announced.
The country has been importing and rationing electricity after a
drought hit hydropower generation, the main power source for Africa's second-largest copper producer.
ZCCM-IH stated that Maamba had secured
financing with anchor lenders for the plant's construction.
"The project's total cost is estimated at $400 million, with a consortium of debt investors financing about $300 million," the statement read.
Maamba has already signed a 20-year power purchase agreement with Zambia's state-owned ZESCO for the project.
Additionally, Maamba set up its first 300 MW coal-fired power plant in 2016 under the initial phase of its power generation business.
The new power plant will be identical to the existing plant and will consist of two generating units of 150 MW each, increasing the total number of generating units to four.
