Zambia Weighs $900 Million Coal-Power Plan as Drought Hits Hydro

Bloomberg11-22 20:20

(Bloomberg) -- Zambia is considering plans by a Chinese-owned company to build a $900 million coal-fired power plant, as it battles unprecedented electricity shortages caused by a record drought. The ...

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Copper producers including First Quantum Minerals Ltd. have had to import costly power to maintain output levels.The drought has prompted the government to consider alternatives to cleaner and lower-cost hydropower after businesses including Wonderful Group of Companies Ltd. proposed using coal to fuel electricity generation. The Chinese-owned firm plans a 600-megawatt plant.Zambia has previously approved the construction of only three power coal-fired power plants — two of them this year.“Every company knows the impact that climate change had this year because of the extensive drought,” Frank Mulenga, chief operations officer at Wonderful Group, said in a meeting with Zambian President Hakainde Hichilema Thursday. 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