By Jerry Munthali
A Turkish energy company with a power plant investment portfolio of over 2,100 Megawatts (MW) installed capacity, has expressed interest to invest in the energy sector in Zambia.
Bendis Holdings board chairman, Mehmet Ensari said his company and its partners are willing to help Zambia meet its current and future energy requirements to sustain the growing energy demand from industrial and domestic consumers.
“A stable and reliable supply of energy is vital for the economic growth of the country and we are aware that Zambia’s potential in the energy sector is immense,” Mr Ensari said.
He said Bendis Holdings, a company with six affiliates, will soon undertake a visit to Zambia to explore investment opportunities in the energy sector.
Zambia’s Ambassador to Turkey, Joseph Chilengi said Zambia remains a preferred investment and tourism destination of choice due to political stability, peace and good policies that support growth of businesses.
Dr Chilengi stated that Zambia is a transforming economy which is in a hurry to achieve sustainable and industrial growth that will translate into job and wealth creation for citizens.
He said to achieve sustainable and industrial growth, Government under the leadership of President Edgar Lungu was diversifying energy sources for efficient and reliable production.
Dr Chilengi added that Zambia recognises the private sector as the engine of economic growth and development in all sectors including energy.
He was concerned that Zambia and other countries in the region are grappling with effects of climate change, which has resulted in low water levels for power generation at Kariba dam.
Dr Chilengi said this has made the country to embark on an energy diversification programme to reduce dependence on hydro power.
Bendis Holdings wants to explore investment opportunities in thermal and hydro power generation plants, cross-border supply inter-connectors and fuel storage facilities.