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France power utility explores investment in Zambia's energy sector

Xinhua, October 2, 2016 Adjust font size:

A delegation from France's state power utility is expected in Zambia this week to explore investment opportunities in the country's energy sector, a statement seen on Sunday said.

The delegation from Electricite de France, which is 84.5 percent owned by the French government, will be in Zambia from October 4 to 7, according to a statement released by the Zambian Embassy in France.

The firm has expressed interest to invest in Zambia focusing on opportunities in conventional hydro project development, small hydro project development and other projects related to hydro and solar power, the statement added.

According to the statement, the French power utility has identified Zambia as one of the priority countries for investment in the southern African region.

The delegation, to be led by Mario Bernado, the firm's director of its international department for southern Africa, will meet players in the energy sector, including officials from the country's energy regulator, the Energy Regulation Board and power utility Zesco Limited.

Zambia is currently experiencing a power deficit after water levels in its reservoirs decreased due to poor rains and is currently inviting investors in alternative sources of energy. About 90 percent of Zambia's electricity comes from hydro. Endit