EnerSynk PPA Signals Fresh Private Investment in Zambia’s Energy Sector

Zambia has taken another step towards attracting private investment into the energy sector following the signing of a Power Purchase Agreement (PPA) between EnerSynk Group and ZESCO Limited, with the project expected to channel 500 megawatts (MW) of electricity onto the national grid.
Speaking at the signing Ceremony, Zambia Development Agency Director General, Albert Halwampa said the agreement demonstrates the potential for private-sector participation in strengthening the country’s power supply and supporting economic development.

Mr Halwampa said reliable and affordable electricity was critical to Zambia’s development ambitions, particularly in industrialisation, mining, agriculture, job creation and economic diversification.

“Energy underpins industrialisation, mining, agriculture, job creation and economic diversification,” Mr Halwampa said.
He said Zambia could not achieve its national development targets at the desired scale and pace without sufficient and reliable electricity.
Mr Halwampa added that the PPA signing was an important step towards increasing power generation capacity and demonstrating what could be achieved when the country creates an enabling environment for private investment.
He disclosed that the project will contribute to Zambia’s target of increasing electricity generation capacity to 10,000MW, which forms part of the Government’s broader development ambitions.

Meanwhile, ZESCO acting Managing Director, Fitzpactrick Kapepe, described the agreement as a major milestone in Zambia’s energy transition, presenting a strategic renewable-energy partnership between Zambia and Hungary.
He disclosed that the agreement provided a foundation for long term power security, economic grow and supporting the government Grow Zambia Agenda over the next five years.

And EnerSynk Group Founder and Executive Chairman, Jason Temasfieldt pledged commitment and growth to Zambia in the long term.
The development comes as Zambia seeks to strengthen its energy infrastructure and attract greater private-sector participation to support growing demand for electricity across key productive sectors of the economy.