Kafubu Water to seal $600m solar project deal

Kafubu Water to seal $600m solar project deal

By ROGERS KALERO

THE government has authorised Kafubu Water and Sanitation Company (KWSC) Limited to sign an agreement with a foreign financier for the implementation of a more than US$600 million floating solar electricity generation power project in Masaiti.

The Ministry of Justice has given the consent to the water utility company after a thorough study of the solar project Memorandum of Understanding between the utility company and a named foreign based firm.

Company Managing Director Athanasius Mwaba confirmed that the document has since been submitted to the Public Private Partnership PPP unit at the Ministry of Finance.

KWSC Marketing and Public Relations Manager Misheck Moyo said the project was pegged between US$600 million and US$900 million.

“The project has since been submitted to  the Public Private Partnership PPP unit at the Ministry of Finance by the Managing Director Mr Mwaba. On completion, the project will generate 600 megawatts of power on a daily basis

“Other benefits to this project will include employment create. On completion, it will creating hundreds of direct and indirect jobs for locals,” Mr Moyo said

Mr Moyo said the Managing Director also disclosed that the development of the solar floating power project was expected to resume in the first quarter of 2022.

He also said the Kafulafuta Water Supply System project was 87 percent complete and had already gobbled US$ 449 million 

The Ministry of Energy and the Energy Regulation Board (ERB) including the Water Management Resources Agency have also endorsed the solar floating energy project.