ZAMBIA HAS INTRODUCED TAX BREAKS FOR NEW POWER PLANTS TO BOOST ELECTRICITY GENERATION

ZAMBIA HAS INTRODUCED TAX BREAKS FOR NEW POWER PLANTS TO BOOST ELECTRICITY GENERATION AND MEET GROWING DEMAND, ESPECIALLY FROM THE  MINES.

ZAMBIA GENERATES 1,800 MEGAWATTS AGAINST PEAK DEMAND ESTIMATED AT 1,600 MEGAWATTS, BUT DEMAND IS FORECAST TO RISE SHARPLY OVER THE NEXT FEW YEARS.

ZAMBIA DEVELOPMENT AGENCY SPOKESPERSON  MARGARET CHIMANSE SAYS  WITH THIS AMENDMENT, BUILDING OF POWER PLANTS TO GENERATE POWER FROM VARIOUS SOURCES OF ENERGY, INCLUDING HYDRO, THERMAL AND SOLAR WILL NOW QUALIFY FOR TAX CONCESSIONS.

SHE SAYS PREVIOUSLY, ZAMBIA ALLOWED TAX BREAKS ONLY FOR MINI HYDRO POWER PLANTS RATHER THAN MAJOR PROJECTS DESPITE THE COUNTRY AND THE  REGION'S ELECTRICITY DEFICIT.

MS CHIMANSE ALSO SAYS  THE AMENDMENT ALSO INCLUDES OPERATION OF THE POWER PLANTS AFTER COMPLETION OF THE DEVELOPMENT OF THE PROJECTS.

MINING COMPANIES IN ZAMBIA ARE EXPANDING PRODUCTION TO TAKE ADVANTAGE OF HIGH GLOBAL COPPER PRICES, PUTTING A STRAIN ON THE EXISTING POWER GRID.

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