New Africa Power
- Active: Active
- Region: Africa
- Country: Zambia
- Sector: Energy - hydro
- Year: 2017
- Domicile: Mauritius
- Instrument: Equity
- Commitment (MNOK) as of 31.12.2018: 15.6
- Original Commitment (MNOK): 15.6
Norfund has teamed up in a new joint venture to develop a 65 MW portfolio of small-scale run-of-the-river hydro power projects in Zambia.
Zambia is among the least developed countries in the world when it comes to electricity supply: Currently, only 25% of the urban and 3% of the rural population have access to electricity.
New Africa Power plans to exploit the country’s significant untapped hydropower resources by developing a 65 MW portfolio of small-scale run-of-the-river hydropower projects in Zambia. It has committed USD 4.6 million for the feasibility phase of the development which is expected to be completed by the 3rd quarter of 2018. In a next step, New Power Africa will develop the projects for submission under the renewable energy feed in tariff programme, thereby ensuring alignment with the government’s economic and social development programmes.
Construction on the first power plant is expected to start from 2020.