The Zambia – Tanzania Interconnector Project (ZTIP) aims to improve Zambia’s access to affordable energy through enhanced power transmission. Funded at $292 million, this World Bank-backed initiative seeks to create regional energy trade, boost economic growth, and increase resilience against climate shocks. ZTIP is part of a broader strategy to ensure sustainable energy access throughout Southern Africa.
The World Bank has announced the Zambia – Tanzania Interconnector Project (ZTIP), designed to enhance Zambia’s access to affordable and sustainable energy. This initiative aims to improve electricity supply security and decrease costs for consumers in Zambia and the Southern Africa region. It will facilitate energy access in rural areas, advancing education, healthcare, productivity, and economic growth.
With a total funding commitment of $292 million, the ZTIP supports ongoing efforts to enhance the energy sector’s sustainability and ensure universal electricity access in Zambia. NOTED, Achim Fock, World Bank Country Manager for Zambia, emphasized the project’s role in addressing Zambia’s financial viability challenges within the power sector, stating it will increase power transmission capacity between Zambia and Tanzania, connecting East and Southern Africa.
The ZTIP is an integral part of the World Bank’s RETRADE-SA MPA, which seeks to promote power trade, climate resilience, and the low carbon development of the Southern African electricity grid. The funding comprises $245 million from the International Development Association (IDA), $17 million from the UK’s FCDO via the ESMAP, and $30 million from the EU.
Yadviga Semikolenova, Energy Practice Manager for Eastern and Southern Africa, commented that the ZTIP will transform Africa’s energy markets, completing a critical transmission corridor and establishing the world’s largest energy market, from Cape Town to Cairo. This will lower electricity costs across the region and bolster Zambia’s resilience against climate-related shocks.
The ZTIP seeks to diversify Zambia’s power sources, currently heavily reliant on hydropower, alleviating the vulnerability of ZESCO during periods of low water availability. The project will further enhance the transmission network with a new 330-kilovolt line to facilitate power transfer for future generation projects.
The ZTIP addresses critical challenges in Zambia’s energy sector, characterized by limited access to diverse energy sources and reliance on hydropower. This project becomes a strategic step towards fostering economic growth by increasing access to affordable energy, thereby enhancing sectors such as education and health. The initiative also emphasizes regional collaboration through strengthened power infrastructure, connecting Zambia with neighboring countries to facilitate energy trade.
In conclusion, the ZTIP represents a significant investment in Zambia’s energy infrastructure, aimed at promoting sustainability and enhancing economic resilience. By improving power transmission capabilities and diversifying energy sources, this project will not only benefit Zambia but also contribute to the broader goals of energy security and affordability in the Southern Africa region. It is a vital step towards bolstering the power sector’s long-term viability.
Original Source: nextbillion.net