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Transactions - OCTOBER 25, 2019

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Univergy to develop solar infrastructure in African country

by Kali Persall

Univergy Solar, a Japanese renewable energy company, is planning to invest $200 million in two solar power projects in Zambia, Africa, according to Reuters.

The projects are expected to add 200 megawatts to the national grid in Zambia — a country that relies mainly on hydropower — next year. Zambia has a 750-megawatt electricity deficit caused by a severe drought that impaired water generation plants.

The projects will consist of a 135-megawatt project in the northern part of the country and a 65-megawatt project in Zambia’s copperbelt.

Univergy and the Zambian government are expected to sign a memorandum of understanding next Tuesday as the first step to start work on the projects in early 2020.

Univergy was formed as the result of a merger of renewable energy–focused entities, with the goal of delivering clean energy solutions throughout the world, according to the company’s website.

The company supplies a variety of services i

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