IDC courts 12 Pre-Qualified Bidders under Round 2 of Scaling Solar Project

In 2015, the Industrial Development Corporation (IDC) was directed to target the immediate procurement of up to 600MW of solar energy power in view of the  energy crisis Zambia was experiencing. Under the World Bank Group's Scaling Solar initiative, IDC engaged the International Finance Corporation (IFC) as Transaction Advisors for the rapid development of grid-connected utility-scale solar projects. Round 1 saw IDC secure two Developers to develop 100MW with the outstanding 500MW to be dealt with in subsequent Rounds. 

IDC and Ursus exhibit at the 4th annual AgriTech Expo

President Lungu visits the IDC-Ursus exhibition stand the 4th AgriTech Expo

 

The Industrial Development Corporation (IDC) and its partner in the tractor and agricultural equipment assembly plant, Ursus of Poland, exhibited at the 4th annual AgriTech Expo held in Chisamba, Central Province from 27-29 April 2017. 

Enel signs 25-year PPA with Zambian national utility ZESCO

Rome and Lusaka – Enel, acting through its Renewable Energies Division Enel Green Power (“EGP”), has signed a 25-year power purchase agreement with Zambia’s state-owned utility ZESCO for the 34 MW Ngonye[1] PV solar project won in June following the first round tender of the Scaling Solar programme, which was launched by state-owned investment holding company Industrial Development Corporation Limited (“IDC”).

IDC and Ursus to Develop a K1 billion Tractor and Agricultural Equipment Assembly Plant

 

Lusaka – The Industrial Development Corporation (IDC) and Ursus S.A., a Polish company, have signed a K1billion (US$100 million) contract through a Government-to-Government agreement to construct a tractor and agricultural equipment assembly plant in the Lusaka South Multi-Facility Economic Zone.

The contract involves the delivery of 2,694 units of tractors and 2,509 units of agriculture machinery with implements and spare parts.

IDC to Restructure and Recapitalize ZSIC General Insurance and ZSIC Life

The Industrial Development Corporation (IDC) Limited on 16th March 2017 announced that it would restructure and recapitalize ZSIC General Insurance Ltd and ZSIC Life Ltd. The announcement was made during the 45th Annual General Meeting of ZSIC Holdings Limited. 

During the AGM, the IDC also announced that the shares in ZSIC General Insurance Ltd and ZSIC Life Ltd would be transferred from the current holding company, ZSIC Holdings Limited to the IDC, which would now directly hold the shares in the two insurance companies. 

First ‘Scaling Solar’ Auctions in Zambia Yield Record Low Tariffs amid Electricity Shortages

The 6.02¢/kWh tariff makes the projects the lowest-cost solar power in sub-Saharan Africa to date

Lusaka – Zambia’s Industrial Development Corporation (IDC) opened bids on May 27 from seven leading renewable energy developers seeking to build large-scale solar power plants in the southern African country where power shortages are acute. The bid tariffs have ranged from 6.02 US cents / kWh to 10.6¢ / kWh at the low end, which would make the projects the lowest-cost solar power in sub-Saharan Africa to date.