May 21, 2024
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RENEWABLE ENERGY

Turkey’s Yeo to Invest $65m in Zambia Solar Power Plant

Turkish company Yeo and local firm GEI Power, have set a $65 million investment in Zambia, earmarked for the construction of a photovoltaic solar power plant integrated with an electricity storage system.

Recent deliberations between Francesca Chisangano Zyambo, Permanent Secretary of the Zambian Ministry of Energy, and executives from Yeo and GEI Power paved the way for the project’s approval by the Zambian government.

The venture entails establishing a 60 MWp photovoltaic solar power plant in the Choma district, complemented by a 20 MWh battery storage system.

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Managed by GEI’s Managing Director, Ignatius Anayawa, the initiative pledges to invigorate economic endeavours in the Choma district through Corporate Social Responsibility (CSR) initiatives, engaging local communities, and providing employment opportunities for approximately 150 individuals during construction and around 50 seasonal workers post-completion.

Yeo’s Vice President of Business Development, Yasin Duven, affirms their commitment to Zambia’s sustainable development through the creation of the special-purpose entity, Choma Solar Power Plant, responsible for the $65 million investment.

The project’s launch coincides with Zambia’s strategic pivot towards diversifying its energy mix, steering away from hydroelectric dependency, which has been hampered by recurrent droughts.

Embracing solar energy emerges as a resilient alternative, with several solar power stations already operational in the Copperbelt, Zambia’s primary mining hub, indicating a progressive shift towards renewable energy solutions.

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