ZESCO Inks Power Supply Agreement with GreenCo
ZESCO Limited has secured power supply imports from South Africa with financial support from GreenCo Power Services Limited (GreenCo) and First Quantum Minerals (FQM), to help mitigate Zambia’s ongoing energy crisis.
The tripartite Electricity Supply Agreement was signed on the sidelines of the inaugural Presidential Delivery Unit (PDU) Forum in Lusaka, and it was followed by the signing of the Power Supply Agreement between FQM and GreenCo.
The collaboration will start with 125 Megawatts of additional power imports, with potential to increase to 250 Megawatts and expand to other GreenCo clients. GreenCo and FQM will fully finance these emergency imports.
Of the 125 Megawatts, 40 Megawatts will be allocated to FQM, with 85 Megawatts supplied to Zambia’s national grid to support households, hospitals, and businesses, and ZESCO has committed to gradually returning this electricity to GreenCo once hydropower capacity is restored, expected in 2025
Speaking at the signing ceremony, zesco Managing Director ZESCO Engineer Victor Mapani, expressed gratitude to the Southern African Power Pool (SAPP) and neighboring utilities for their cooperation in ensuring regional energy stability.
“We thank Eskom for their critical support during this challenging period, and GreenCo and FQM for their financial assistance,” Engineer Mapani said.
And GreenCo’s Head of Business Development and Executive Director, Wezi Gondwe said the partnership demonstrates how the public and private sectors can collaborate to secure vital energy supplies for both industrial and residential users.
“By supporting ZESCO, we’re ensuring stable power for Zambian industries and residents,” Mr. Gondwe stated.
Meanwhile, FQM Zambia Director Anthony Mukutuma, underscored mining giant’s dedication to the country’s economic and energy stability.
“FQM, a major mining company and power consumer in Zambia, will maintain its operations while contributing to domestic energy supply, reducing the impact of load shedding for the country. This agreement supports our operations while easing pressure on the national grid.
“This initiative aligns with FQM’s broader commitment to Zambia, including its $1.35 billion investments in projects like the Kansanshi mine S3 Expansion and Enterprise nickel mine. These developments strengthen Zambia’s role in global copper and nickel production, crucial for renewable energy supply,” he noted.
