The Zambia Development Agency (ZDA) and Metro Gold have signed a US$240 million Investment Promotion and Protection Agreement (IPPA), for a 200 Megawatts solar power plant.

ZDA Director Albert Halwampa said the solar power plant, which will be established in Luanshya, will complement government efforts in the provision of sufficient energy for industry and households.

Speaking today at his office during the signing of the IPPA, Mr Halwampa noted that the country wants to reach a generation of 10,000 Megawatts in the next five years, adding that this means 6,000 megawatts of power will have to be generated to reach the target.

“I am particularly happy with Metro Gold because it is a Zambian company and I want to urge the public to onboard on the Zambia Investment Deal Room platform for investment incentives,” he said.

And Metro Gold Developer Kebby Muteteete appreciated the government for opening up the energy sector to the private sector, especially in solar energy.

Dr Muteteete revealed that about 200 local jobs will be created in Luanshya and thanked the government for creating an enabling business environment.