The Government of the Republic of Zambia (GRZ) aims at improving the conditions for renewable energy (RE) Independent Power Producer (IPPs) development and encouraging participation of private investors in the energy sector. The GETFiT (Global Energy Transfer Feed-in-Tariff) Zambia program, whose design has been supported by the KfW, aims to assist the GRZ in the implementation of its Renewable Energy Feed-in-Tariff (REFiT) Strategy officially launched in October 2017.
This framework targets to mobilize a financing package for upcoming RE IPP projects in Zambia identified under the GETFiT program, primarily for the first round 100MW solar PV (at least 80% of the framework). During the first phase, five to six small-scale (up to 20MW) solar PV projects will be selected through a competitive bidding process by Q2 2018 with the expected financial close by Q3 2018. It is targeted that most of them will be financed by the framework. The launch of the second phase will follow in mid-2018, which will procure total 100MW of small-hydro projects. The framework may finance a limited number of small-hydro projects from the second phase (i.e. up to 20% of the framework).
The Technical assistance (TA) will have two components:
It is proposed that the AfDB will provide senior debt and standby loans to finance each of the selected and interested IPPs (the AfDB exposure to be limited up to one-Third (33.3%) of the total project cost – USD 50 million for the whole framework). The remaining debt will be financed by the GCF (through the AfDB as an Accredited Entity), a pool of commercial banks (backed by a standby loan) and the national pension fund managed by the Zambian National Pension Scheme Authority (NAPSA) (proposed). The GCF’s participation will be pari passu with the AfDB, therefore its total exposure including standard loans and standby loans will be equally limited to one-third (33.3%) of the total project cost.
In addition, Technical assistance (TA) grants of up to USD 4 million, from the GCF and the AfDB, will be provided.
Contact: Ousseynou Nakoulima, Director for Renewable Energy and Energy Efficiency - Namho Oh, Investment Officer
Organization: African Development Bank
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