Zambia’s government has said it will assume Zesco’s debt to private power suppliers in a bid to promote confidence as it seeks to renegotiate power supply agreements. A government team led by the Industrial Development Corporation (IDC) is renegotiating power purchase agreements with IPPs in an attempt to reduce the tariffs at which Zesco buys power from private producers. Ministry of Energy sources estimate Zesco’s debt to IPPs had reached around $726m at the end of November 2020.
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