Zambia and Norway Sign Emission Reduction Agreement to Boost Renewable Energy Investment
Norway and Zambia have signed a Mitigation Outcome Purchase Agreement under the Paris Agreement, launching the Carbon Feed-In Premium Program to incentivize renewable energy generation in Zambia. This program will provide performance-based payments for verified emissions reductions linked to renewable electricity supplied to Zambia's grid. The initiative, supported by the Norwegian Global Emission Reduction Initiative, aims to reduce investment risks and enhance Zambia's climate goals.
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Norway and Zambia signed a Mitigation Outcome Purchase Agreement (MOPA) to launch the Carbon Feed-In Premium (CFIP) Program, aimed at accelerating renewable energy in Zambia. The program will offer payments for verified emissions reductions from renewable electricity delivered to the national grid, addressing investment uncertainties.
This initiative is backed by Norway's Global Emission Reduction Initiative and is part of Zambia's efforts to implement Article 6 of the Paris Agreement. Historically reliant on hydropower, Zambia seeks to diversify its energy sources due to drought impacts on generation. The partnership aims to attract investment in clean energy and advance Zambia's climate objectives, with operational arrangements to be finalized post-signing.
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