Zambia Signs $246 Million Solar Investment Deal to Expand Nambala Power Project
Zambia Secures $246M Solar Investment as Nambala Project Expansion Targets 350MW Capacity
The Zambia Development Agency (ZDA) and Sunshare Energy Limited (SEL) have signed a $246 million Investment Promotion and Protection Agreement (IPPA) to expand the Nambala Solar Power Plant in Mumbwa, in a move aimed at accelerating Zambia’s renewable energy development.
The agreement supports Phase II of the project, which will add 250 megawatts (MW) to the existing facility. This follows Phase I a 100MW installation valued at $54 million bringing the plant’s total planned capacity to 350MW and cumulative investment to approximately $300 million.
ZDA Director General Albert Halwampa said the expansion aligns with the government’s broader target of increasing national electricity generation capacity from 3,800MW to 10,000MW.
He noted that expanding energy supply is critical to supporting growth in key sectors such as mining, infrastructure, and tourism, all of which rely on stable and reliable electricity.
Halwampa added that recent policy reforms have significantly reduced approval timelines for energy investments, improving Zambia’s competitiveness as a destination for large-scale infrastructure projects.
He also pointed to rising electricity demand driven by the country’s ambition to increase copper production to three million tonnes annually.
This, he said, presents opportunities not only for domestic consumption but also for regional electricity trade through the Southern African Power Pool (SAPP).
Investment to Support Jobs and Energy Targets
Bin Chen, Assistant Director at Sunshare Energy, said the project is expected to create both short- and long-term employment opportunities.
Around 120 jobs are anticipated during the construction phase, with approximately 240 permanent positions once the plant becomes operational.
Chen described the signing of the IPPA as a key milestone, noting that it enhances investor confidence and provides a stable framework for further capital investment.
He added that the project reflects Zambia’s readiness to host large-scale renewable energy developments and supports the country’s goal of reaching 10,000MW of installed power capacity by 2031.
