By Jane Chanda
President Hakainde Hichilema says the country is on track to reach 1000 megawatts of solar energy by the end of the year through Public-Private Partnerships with banks.
And the Head of State said collaboration between the banking sector and the government was crucial for investing in solar energy, which would help address the power deficit caused by droughts and ultimately achieve surplus power generation to reduce the current power deficit.
Speaking at a meeting with the Solar Energy Explosion Financing group at State House yesterday, President Hichilema highlighted the need for the private sector involvement in financing and public-private initiatives to ensure timely development of solar power generation.
“Government has a clear path of what we want to do, we have made tremendous progress in debt restructuring in various sectors. This progress is a significant step towards achieving the country’s renewable energy goals,” he said.
The Head of State also noted that even if the drought had dilapidated the country, valuable lessons had been learned.
President Hichilema further said that the previous regime and politicians had damaged the system at Zesco long before he resumed office.
He expressed concern about the time it took to complete the 500 megawatts wind plant, particularly in comparison to the Chinese, but remained confident in the current administration’s ability to drive progress in the energy sector.
And Energy Minister Makozo Chikote encouraged the private sector to take the lead in providing a roadmap for solar energy solutions.
He said the government alone could not address the power crisis but needed private sector involvement through financing and public private initiatives to ensure development of solar power generation is executed in time.
The minister emphasised that solar solutions were not the only answer for governing the energy sector at present, instead, the country would continue to rely heavily on hydroelectric power, which it had traditionally depended on.
He said currently, the nation was prioritising solar energy, aligning with President Hichilema’s directives.
The minister also encouraged individuals to support the government’s efforts by adopting solar energy at the household level.
Meanwhile, ZESCO Managing Director Justin Loongo revealed that despite solar installations, Zambia still relied on hydroelectricity for 85 per cent of its power supply.
He said the drought significantly reduced electricity production in the past year, causing a deficit of over 1,400 megawatts.
“The impact of the drought on hydro generation has been severe, and we must act fast to diversify our energy sources,” Loongo said.
He further said hydroelectric performance dropped below 40 percent, leading to increased load-shedding hours, adding that with various interventions and the favorable rains received this year, the country would soon start seeing improvements.
Bankers Association of Zambia Chairperson Lowani Chibesakunda said that banks were ready to help the country alleviate the power deficit and ensure a sustainable energy future.
