Sat, 27 May 2017 11:10:27 +0000
By BUUMBA CHIMBULU
THE African Development Bank (AfDB) has pledged to use the Development Bank of Zambia (DBZ) as a channel to invest in small off grid energy projects in Zambia.
According to AfDB vice president for Power, Energy, Climate and Green Growth, Amadou Hott, the move would accelerate the implementation of projects as time was lengthy when AfDB was directly involved.
“AfDB is working with the Green Climate Fund to bring in money for small off grid projects and for the Renewable Energy IPP programme,” he said.
This is according to the first secretary for press and tourism at the Zambia High Commission in New Delhi, India, Bangwe Naviley.
Speaking when he met Minister of Finance, Felix Mutati at an AfDB Annual Meeting side-line event in Gujarat, India, Mr Hott also praised Zambia for increasing electricity tariffs by 75 percent, saying more investments would be attracted in the energy sector because of the cost reflective tariffs.
Mr Hott said he would take it personally to publicise to key investment players, convincing them to talk to Zambia which now had cost reflective tariffs.
And Mr Mutati said the Minister of Energy would soon take the Renewable Energy Feed-In Tariff- REFIT to Cabinet to provide clarity on solar and other renewables.
“The REFIT exercise has been executed with support from the World Bank,” he said.
Mr Mutati said the move would 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,” he said.
