Ngonye Solar PV Plant

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The project entails the development of a 34-MWp solar PV plant in Lusaka South Multi-Facility Economic Zone, Kafue District of Lusaka Province. NGONYE POWER COMPANY LIMITED is the project company undertaking the project on behalf of the sponsors - Enel (80%) and Industrial Development Corporation (Zambia) (20%). This is a greenfield project initiated on a BOO modality. The project will benefit from a long-term (25 years) PPA with ZESCO. Total investment is estimated at $45 million. The debt package includes an IFC A-loan of $10 million, an IFC-Canada Climate Change Program senior loan of $12 million and EIB senior loan of $11.75 million. Project was completed on May 2, 2019. Financial closure occurred on 20 June, 2018. https://ijglobal.com/data/transaction/38199/ngonye-solar-pv-plant-34mw https://disclosures.ifc.org/#/projectDetail/SII/37811 https://www.enelgreenpower.com/media/press/d/2018/06/enel-and-idc-sign-34-million-us-dollar-financing-agreement-with-ifc-and-eib-for-solar-project-in-zambia , https://www.esi-africa.com/industry-sectors/renewable-energy/zambia-34mw-ngonye-solar-pv-plant-comes-online/