The Zambian government said on Wednesday that it was in the process of developing a technical assistance framework to spur private sector participation in the development and provision of renewable energy.
The National Designated Authority, which falls under the Ministry of National Development Planning, said plans have advanced to provide technical support and financing to promote independent power producers in the country, according to state-run news agency, the Zambian News and Information Service.
NDA National Coordinator Francis Mpampi said over 100 million U.S. dollars of financing from the South Korea-based Green Climate Fund will be channeled to facilitate implementation of the Zambia renewable energy project.
The renewable energy technical assistance project intends to finance the private sector to set up electricity generation plants as an alternative source of energy in the country in light of continued effects of climate change that has affected hydro electricity generation, he added.
According to him, the technical assistance project will help prepare and build the capacity of financial institutions to assess and finance the development of renewable energy projects in the country.
He said the renewable energy sector has not been exploited in Zambia due to lack of investment and technical capacity to maximize the massive energy potential.
Editor:Cherie
