About GET FiT Zambia
GET FiT Zambia is designed to assist the Zambian Government in the implementation of its REFiT Strategy. In line with this strategy, GET FiT Zambia aims to procure 200 megawatts (MW) of renewable energy projects within the next three years. GET FiT supports small- to medium-scale Independent Power Producer (IPP) projects up to 20 MW, in line with the REFiT Strategy.
The initial phase of the GET FiT Zambia program will be a tender for up to 100 MW of solar PV capacity, to be launched in early 2018. The REFiT Strategy has also allocated 100 MW of capacity to hydro projects. GET FiT intends to launch the hydro tender in mid-2018. Subsequent tenders could call for other technologies including biomass and geothermal.
In addition to diversifying Zambia's power mix, GET FiT Zambia aims to strengthen the Zambian power market by encouraging private sector participation by a wider range of developers, construction firms and financial institutions. In partnering with Zambian stakeholders, GET FiT Zambia also strives to boost institutional capacity and the policy and regulatory framework for renewable energy IPPs in Zambia.
Components of GET FiT Zambia
GET FiT Zambia consists of several related components designed to help create an attractive environment for private investors and systematically support Zambian government and ZESCO efforts to meet the objective of providing affordable and stable power to the Zambian people. The components of the program are described below.
Viability Gap Funding
GET FiT offers performance-based tariff support for a limited portfolio of qualifying REFiT projects. In effect, viability gap funding facilitates the entry of early movers from the private sector into the nascent renewable energy market in Zambia. GET FiT Zambia does not envision applying viability gap funding toward solar PV projects.
Technical Assistance Facility
GET FiT's Technical Assistance Facility includes three different elements. First is the development of a harmonized set of legal documents behind the efforts of our legal partners at Trinity and with guidance from Zambian stakeholders. Second is the development of a solar PV auction with our auction agent, Multiconsult, and a tender process for other technologies under the REFiT Strategy. Third is assistance to relevant Zambian stakeholders to streamline procedures and clear other potential hurdles for implementation of the REFiT Program.
Risk Mitigation Facility
The Risk Mitigation Facility will be implemented in close collaboration with African Trade Insurance (ATI) as an option for developers and financiers. It combines ATI's existing Termination Guarantee insurance with a new short-term liquidity product (Regional Liquidity Support Facility) jointly developed by ATI and KfW.
Grid Integration Facility
The Grid Integration Component of the GET FiT Program consists of two different elements. GET FiT has provided advisory support to ZESCO regarding grid integration of solar PV into Zambia's national grid. GET FiT will also provide financing for grid integration for select technologies, such as hydro.
To learn more about GET FiT Zambia, please contact us at email@example.com.