Today, at the 3rd Annual Zim-Zam Energy Conference in Livingstone at the foot of one of the 7 natural wonders of the world, the Mosi-oa-tunya falls, Western Power Company signed a Structuring and Arranging Mandate with The Standard Bank South Africa (SBSA), Stanbic Bank Zambia and the Development Bank of Southern Africa (DBSA) who have been appointed as the co- MLAs (Mandated Lead Arrangers).
What is the significance of the co-MLA appointment?
These three institutions will now structure and raise the financing for the USD 800 million Ngonye Falls Hydro-Electric Project. The Ngonye Falls project is 180MW run-of-river hydroelectric project on the Zambezi River.
The Ngonye Falls project is an extremely environmentally and socially friendly project and has been awarded Africa's first Gold Award for a hydro project from the International Hydropower Association (IHA). This is the final step to Financial Close and the commencement of construction.
WPC would like to extend our thanks to our partners, The Barotse Royal Establishment, PIDG Project Development (InfraCo) and Lunzua Power Company for backing this project and Zambia’s energy future, and to the conference organisers for hosting us.
Tom Younger -Managing Director and co-Founder