The European Investment Bank will provide €50m (US$65m) for the construction of a 120 MW hydropower plant at the existing Itezhi-Tezhi Dam and of 291 km transmission line to Lusaka that will connect the power station to the national grid and the Southern African Power Pool.
The 120 MW project is being developed by Itezhi-Tezhi Power Corporation, with ZESCO and TATA each having a 50% share. Power from the Itezhi-Tezhi Power Station will be transmitted through the Itezhi Tezhi–Mumbwa-Lusaka West transmission line to the national grid.
Additional financing for the US$375m project will also be provided by the French Development Agency (AFD), African Development Bank, FMO, PROPARCO, Development Bank of Southern Africa, Republic of Zambia, TATA and the Government of India. An interest rate subsidy and technical assistance grant will also be provided by the EU-Africa Infrastructure Trust Fund. The project is expected to be completed by 2015.
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