Zambia Power Q1 2020
The continuing development of new hydropower capacity will solidify the dominance of hydroelectricity in Zambia'spower mix over our 10-year forecast period to 2028. While solar power capacity has seen significant growth through 2019, and itsnon-hydropower renewables project pipeline has expanded well beyond that of any year before; we expect diversification will belimited due to the ongoing investment in new large-scale hydropower capacity, leaving the country vulnerable to drought-induceddeficits in the years to come. We note that the country's widening fiscal deficit and growing electricity oversupply through themedium term poses a downside risk to our forecasts this quarter.
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