State power utility ZESCO has appointed Multiconsult UK to identify and value their generation, transmission and distribution assets.
The engineering consultancy said that the assignment is planned to take nine months and will be undertaken by a large team comprising staff from the UK, Norway, South Africa and Zambia.
The team includes accounting, valuation and insurance specialists.
According to the engineering firm, “the project team will undertake identification, condition assessment, determination of present book value and residual lifetime assessment of all fixed power system assets in accordance with national legislation and international standards.
“The scope will additionally include insurance risk assessments and the creation of a new fixed asset register with interfaces to ZESCO’s accounting and equipment maintenance systems.”
“This appointment marks the continuation of an important working relationship with ZESCO,” says Knut Norén, Managing Director of Multiconsult UK.
Norén added: “Our hydropower engineers have worked with ZESCO since the 1950’s, when they were asked to design several hydropower projects in northern Zambia.
“Since then we have studied rehabilitation and upgrading options and are still providing design review and site supervision services for these projects.”
ZESCO is wholly owned by the Government of Zambia and has four major hydroelectric power stations, five small hydropower stations, nine diesel power stations, approximately 5,774 km of transmission lines, 81 high voltage sub stations and a distribution system serving the entire country.
To support accurate business planning and corporate financing, ZESCO revaluates the value of their assets on a regular basis.