Zambia News

Investors in UK interested in investing more than $2 billion in energy sector

PRESIDENT Hakainde Hichilema reports that investors in the United Kingdom have confirmed their willingness in investing more than US$2 billion in the energy sector.

According to the President, the investment would produce about 1,500 megawatts of green energy from geothermal, hydro, wind, and solar sources.

The Head of State stated in a Facebook post that the administration is committed to having an energy surplus so that it may be exported and used to generate foreign exchange income in addition to being energy self-sufficient.

“We were delighted to have received a delegation of investors in the energy sector from the United Kingdom led by the UK High Commissioner to Zambia, Nicholas Woolley.

This show of interest to invest in various sectors of our economy is a culmination of our strategic economic diplomacy efforts.

During our trip to Glasgow, Scotland in November 2021 where we attended the COP 26 Climate conference, we put a strong case for accelerated investment, particularly in green energy. This led to the signing of a Green Growth Compact between Zambia and the United Kingdom valued at £1 Billion Pounds,” he said.

Once the investment is made, he claimed, it will help the nation have more electricity and speed up economic change so that industries may operate around-the-clock and generate more jobs for locals.

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