Zambia Urges $11.6 Billion Investment to Meet 2030 Electricity Demand
Zambia needs $11.6B Investment in Renewables and Power Infrastructure to Meet Rapidly Growing Electricity Demand
Zambia will require US$11.6 billion in investments by 2030 to expand electricity generation and meet rapidly growing national demand, Energy Minister Makozo Chikote has announced.
Speaking through Director of Energy Mafayo Ziba at the official opening of the Commercial and Industrial (C&I) Energy + Storage Summit Zambia 2025, Minister Chikote emphasized that the country’s energy sector is at a decisive moment. He urged investors to explore opportunities in renewables, energy storage, and industrial power solutions.
Electricity demand in Zambia is projected to increase by 121 percent by 2030, requiring generation capacity to rise from 3.7 gigawatts (GW) in 2023 to 10 GW.
Renewable energy sources, particularly solar and wind, are expected to grow from 3 percent of the energy mix in 2023 to 33 percent by 2030.
“Meeting this demand will require transformative investment in Zambia’s power sector,” said Minister Chikote. “Of the US$11.6 billion needed, US$9.5 billion will come from private sources under the Mission 300 initiative. The time to invest in Zambia’s energy future is now.”
To encourage private sector participation, the government has introduced reforms including the Open Access Framework, Multi-Year Tariff Framework, Net Metering, and a Single Licensing System.
Highlighting the impact of these reforms, Senior Energy Officer Eng. Palanga Ngoma noted that initiatives such as the establishment of the Energy Company and the Open Access Framework are already reshaping Zambia’s energy sector.
Minister Chikote also emphasized the pivotal role of the C&I sector, prioritizing grid modernization through storage and hybrid systems, private-led generation, and enhanced regional power trading.
The two-day summit, organized by the Vuka Group and partners, brought together policymakers, financiers, and industry leaders to explore solutions for Zambia’s long-term energy security and competitiveness.
Reaffirming the government’s commitment, Director Ziba stated: “As a Ministry, we stand ready to work with the private sector, financiers, and technology partners to unlock Zambia’s energy potential. Together, we can power growth, drive industrialization, and deliver a sustainable energy future for all.”
