ZESCO signs $500m deal with NAMPOWER

ZESCO Limited has signed a 10-year power supply agreement worth US$500 million with the Namibian Power Supply Company (NAMPOWER) for the supply of 80 megawatts of power to Namibia.

ZESCO Managing Director Victor Mapani signed the deal on behalf of the power utility, while Simson Haulofu who is the Chief Executive Officer for NAMPOWER signed on behalf of the Namibian power utility.

Speaking during the signing ceremony, Mr. Mapani says the deal will see ZESCO earn us$50 million per year which might change with time.

Mr. Mapani says the agreement marks progress towards ZESCO’s mission to innovatively deliver excellent electricity and other energy services through effective and efficient work processes anchored on financial prudence as the hallmark.

He states that ZESCO has embarked on an ambitious programme to position itself as a major power trading utility in the sub-region and beyond through expansion and upgrading of transmission lines across the country to ensure stable supply for the local market and creating inter-face points with other utilities around the region. 

Mr Mapani says NAMPOWER has demonstrated to be one of ZESCO’s stable and reliable customers, adding that this collaboration demonstrates the continued cooperation and trust between the two utilities, and honesty, between the two countries. 

Speaking earlier, NAMPOWER Managing Director, Simson Haulofu says the agreement for the 80 megawatts is an additional to 100 megawatts his company got in 2020 to boost the country’s energy supply system.

He has described the agreement as a landmark achievement for the two countries.