A Turkish firm is in talks with the Zambian government with a possibility of developing and investing in a 50 megawatts on-grid solar plant. Cora Energy, whose delegation was in Zambia last month, said it held fruitful discussions with various Zambian government departments regarding the proposal to develop and invest in the solar power plant.
Servet Cora, the company's general manager expressed happiness that the discussions with the Zambian government were progressing well, according to a release by the Zambian embassy in Ankara.
According to him, his company wanted to invest in Zambia because the country was peaceful, coupled with political stability as well as business incentives which has placed the southern African nation among the most preferred investment destinations in Africa.
The firm's investment strategy was to increase the generation of electricity from renewable energy resources and consequently enhance carbon emission reduction in Africa, he added.
The Zambian government welcomes any investment in the energy sector due to the current electricity challenges.