South African company acquires wind energy project in Zambia
South Africa-based independent power producer Sturdee Energy has announced that it has entered the Zambian market through the acquisition of the Masaiti Wind Project from Upepo Energy Zambia. Masaiti is a 200 MW project located in the Mpongwe District of the Copperbelt province.
“The project is now ready to be progressed towards financial close, with more than six years of on-site wind measurements collected [by Upepo] across two meteorological masts,” reported Sturdee. “This depth of data provides a strong understanding of the site’s wind resource and gives Sturdee a solid foundation from which to take the project forward.”
The anchor client was Zambian national electricity utility ZESCO and Masaiti would be connected to the national grid via a ZESCO 330 kV transmission line which ran alongside the wind project site. Other clients would include local electricity traders, the Southern African Power Pool markets, domestic and international bilateral contracts.
Sturdee intended to add solar power and battery storage to complement the wind energy and so provide more consistent and predictable clean energy supply over a 24-hour profile. Wind, solar and battery energy would be provided through a single power purchase agreement, thereby simplifying the process.
“Sturdee also intends to consider potential structures such as contracts for difference for commercial and industrial customers looking to secure renewable power,” stated the company. “The focus is on developing practical, flexible solutions that can respond to the needs of both customers and the wider energy market.”
The group targeted Zambia and in particular the Copperbelt because of the country’s growing economy, a large part of which was centred on the province. The Zambian government was seeking to expand the country’s electricity generation capacity to some 10 GW by 2030, and to triple copper production by 2031.
“[The] acquisition of the Masaiti Wind Farm puts us in a position to enter an incredibly important market, with not just talk, but action,” highlighted Sturdee co-CEO James White. “The Masaiti Wind Farm is only the tip of the spear where we intend to expand rapidly to answer the call for 24-hour renewable energy in [the Southern African Development Community], delivered to our customers on their terms.”
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