By KENNEDY MUPESENI –

THE Copperbelt Energy Corporation (CEC) has spent US$3 million on the feasibility study on Luapula River to identify potential sites for new hydropower plants.
This will increase the corporation’s power capacity to supply the mines and other heavy industries in the northern region.
CEC chief operating officer Christopher Nthala said his company had recently invested $3 million on the feasibility study being carried out on Luapula River to identify potential sites for hydropower stations.
Mr Nthala said this at the just-ended Fifth Zambia International Mining and Energy Conference and Exhibition (ZIMEC) in Lusaka last week, in response to stakeholders’ concerns that CEC was not developing their own power projects.
“We are preparing for the future demand of electricity and that is why we embarked on the feasibility study to identify potential sites on the Luapula River for hydropower stations,” Mr Nthala said. “We have so far spent to the tune of $3 million.”
He said the 20-year power agreement with Zesco Limited, which demanded that the company buys power only from Zesco and no importation, would come to an end in 2017.
This is why the company has intensified investment in various new power projects, including renewable ones.
Stakeholders urged CEC to embark on power generation and not solely depend on Zesco in view of the high demand of electricity.
Mr Nthala also said that the Government should consider zero-rating taxes for new power projects.
He said this would encourage more investment in the energy sector and boost power exports.
With more investment in the electricity industry, Mr Mr Nthala that the country could earn more foreign exchange looking at the number of neighbouring countries yearning for electricity.