19.2 C
Lusaka
Tuesday, January 31, 2023
spot_img
HomeNewsZAMBIA NEEDS US$14 BILLION INVESTMENT IN ENERGY SECTOR

ZAMBIA NEEDS US$14 BILLION INVESTMENT IN ENERGY SECTOR

(ZANIS) Zambia requires over 14 billion United States dollars worth of investment in the energy sector to meet the growing demand for electricity services.

The money is expected to be spent on investment into the energy sector up to 2040.

The demand has been projected to increase by 95 percent and will be mainly driven by domestic and bulk supply.

Energy Regulation Board (ERB) Director for Economic Regulation, ALFRED MWILA, disclosed this during the dissemination of the findings of the electricity Cost Service Study and government green paper in Lusaka today.

Mr. MWILA noted that peak electricity demand for the country will increase from over 2000 megawatts in 2020 to over 4000 megawatts in 2040.

And Ministry of Energy Permanent Secretary for Administration, FRANCESCA ZYAMBO, called for active participation from stakeholders on how they want the study to be improved upon.

In a speech read for her by Ministry of Energy Director for Planning and Information, MWAPE CHIPALA, Ms ZYAMBO explained that  the green paper is not the government’s final position hence the need to engage other stakeholders.

The white paper will contain the government’s final position and policy direction on the findings and recommendation of the electricity Cost of Service Study.

SourceZNBC
RELATED ARTICLES
- Advertisment -
Royal Charter

Most Popular