Zambia Approves K2.46 Billion Investment in Energy Sector
The Energy Regulation Board (ERB) in Zambia has approved thirty-four license applications and five construction permits within the renewable energy and petroleum sub-sectors.
These approvals, totaling an investment of K2.46 billion (US$98.4 million), were granted during the July licensing committee meeting.
ERB Public Relations Manager Namukolo Kasumpa announced that thirty-five applications were reviewed, with one license application being rejected due to non-compliance with safety standards and regulations.
“The stringent licensing process demonstrates the Board’s commitment to promoting investment and growth in the energy sector while maintaining strict adherence to safe practices and regulatory requirements that safeguard the well-being of the public,” said Kasumpa.
The approved licenses cover various critical activities within the energy sector, including the retail of Liquefied Petroleum Gas (LPG), the importation, supply, and installation of solar energy equipment, as well as the transportation, importation, and retail of petroleum products.
“These approved licenses not only ensure a reliable and diversified energy supply but also attract substantial investment that fosters economic growth and generates employment opportunities,” Kasumpa noted.
The granted construction permits in the petroleum sub-sector aim to establish essential infrastructure for the bulk storage and distribution of petroleum products, reinforcing the national security of fuel supply.
Kasumpa emphasized that the ERB remains dedicated to fostering a transparent regulatory environment that promotes sustainable energy alternatives, investment attraction, and compliance with licensing guidelines and standards within the energy sector.
“This considerable investment further demonstrates the confidence of businesses and investors in Zambia’s energy sector and validates the robust government policies that underpin the ERB’s regulatory framework,” she added.
“The Board will continue to uphold a rigorous, transparent, and predictable licensing procedure that encourages the adoption of alternative energy sources to contribute to the energy mix and sustainability of Zambia’s energy future while maintaining the highest safety and quality standards.”
