The Enel Group's global renewable energies division Enel Green Power started the construction of the 34MW Ngonye solar PV plant.
"The start of construction of Ngonye solar plant is a new milestone in the strengthening of the Enel Group's presence in the African continent, where we already are the first private renewable operator in terms of installed capacity," said Antonio Cammisecra, Head of Enel's Global Renewable Energies Division, Enel Green Power. "Ngonye, with its clean, sustainable and reliable power, will play a significant role in helping Zambia to meet its electrification goals, demonstrating once again that renewable utility-scale power plants are the most effective solution to give access to electricity in the continent."
The Enel Group will be investing around 40 million US dollars in the construction of Ngonye, which is expected to be completed in the first quarter of 2019. In June, the Enel Group signed with IDC a financing agreement of around 34 million US dollars for the construction of the PV plant, involving senior loans of up to 10 million US dollars from the International Financing Corporation, a member of the World Bank Group, up to 12 million US dollars from the IFC-Canada Climate Change Program and up to 11.75 million US dollars from the European Investment Bank.