The , through IDC Zambia, working with the , as part of the bank's program "Scaling Solar", awarded the tender to develop this power station to (EGP), a subsidiary of , the Italian manufacturer and distributor of electricity and gas. EGP and IDC formed an ad-hoc joint venture company, Ngonye Power Company Limited, to design, build, own and operate this power plant.
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Pumped storage hydropower is the world's largest battery technology, with a global installed capacity of nearly 200 GW – this accounts for over 94% of the world’s long duration energy storage capacity, well ahead of lithium-ion and other battery types. The technology absorbs surplus energy at times of low demand and releases it when demand is high. Pumped hydropower storage uses the force of gravity to generate electricity using water that has been previously pumped from a lower source to an upper reservoir. The rapid growth in variable renewable energy (VRE) sources such as solar and wind is increasing the need for stable, reliable storage solutions that can operate at utility-scale.
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