The first in a series of articles on energy markets in Southern Africa takes a look at the factors that have turned Zambia into one of Africa’s most attractive markets for renewable energy investment.
Zambia is becoming one of Africa’s most attractive renewable energy markets for investors with new procurement mechanisms and market liberialization driving investment in large-scale solar and storage.
Dominic Goncalves, Advisory Partner for Energy Strategy at Cresco Project Finance and Founder & Director of Naviara Energy, told pv magazine there is “an unprecedented level of PPA activity in Zambia at the moment” as developers move to secure opportunities in what he describes as one of the continent’s fastest-evolving energy markets.
“Zambia isn’t simply procuring more solar,” he added. “It’s creating a market for dispatchable renewables, trading, aggregation, storage and innovative financing.”
Post-drought market drivers
