Lusaka 15th February 2024 – 7YRDS Group, a Germany company is investing USD 100 million in the set up two solar projects in Kafue and Sesheke with a total expected output of 100MW.
Mr Philip Janssen – Founder and Chief Executive Officer 7YRDS Group disclosed this when he led a delegation on a Courtesy call to the Zambia Development Agency (ZDA). The delegation included Mr Noah Mewes – Managing Director 7YRDS Group, Mr Brandon Imataa – Managing Director – Sevenyards Zambia, Bibusa Wissemann – Managing Director and Consultant -Africa GreenTec Zambia.
The purpose of the courtesy call was to brief ZDA on the progress made with regard to the project implementation and to seek guidance on how to activate investment incentives and other non-fiscal incentives facilitated by the Agency.
Mr Janssen said the two projects will be 50 Mega Watts each and will be commissioned in the first quarter of 2025. He said the project is creating about 1000 jobs from construction to operationalization of the plants.
Mr Janssen said the feasibility studies have already been concluded, while the environmental impact assessment is currently underway.
Meanwhile, Managing Director and consultant -Africa GreenTec Zambia Bibusa Wissemann said the energy project is one of the fruits of the visit by German President His Excellency Frank-Walter Steinmeier to Zambia last year in November.
And ZDA Director General, Albert Halwampa said the demand for energy in Zambia keeps increasing owing to growth in the mining sector and agriculture activities through irrigation and value addition.
Mr. Halwampa assured the delegation that all the power that will be generated by their company would be utilised either locally or internationally.
He noted that Zambia is poised to be a net exporter of energy in the sub region supplying through the Southern Africa Power Pool and other avenues.
Mr. Halwampa was confident that with the current political will and conducive business environment the company will expand and diversify its business in Zambia.
“Zambia is the place to be as the focus of the President of the Republic of Zambia Hakainde Hichilema is trade and investment. As a result, there is a lot of demand for energy necessary for mining, agriculture, and transport and logistics such as the Lobito corridor project among others,” explained Mr Halwampa.
The Director General further assured the investor of the Agency’s support throughout their investment journey.
-Ends-
