en.Wedoany.com Reported - ZCCM Investment Holdings of Zambia has signed a cooperation agreement with China's Wonderful Group Services Co., Ltd. to build a 600 MW coal-fired power plant in two phases, with a total investment of $452 million.

Under the agreement, each phase will have an installed capacity of 300 MW. The second phase is expected to be completed within five years after the first phase is finished, though a specific timeline has not yet been announced.

The power plant will be implemented by Ever Great Energy Company, a subsidiary of Wonderful Group Services. ZCCM-IH will invest $54.2 million in the project, acquiring a 30% stake in Ever Great.

Zambia currently faces a peak power deficit of 1,400 MW. The construction of this coal-fired power plant aims to bridge this gap and reduce the country's reliance on hydropower. In recent years, drought conditions have severely impacted the power generation performance of the Kariba Dam, while hydropower remains Zambia's primary source of electricity.

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