- Zambia signs US$246 million solar investment agreement with Sunshare Energy for phase two of the Nambala Solar Power Plant.
- Expansion will increase total project capacity to 350 MW and total investment to US$300 million.
- Project expected to create 120 construction jobs and 240 permanent positions.
The Zambia Development Agency and Sunshare Energy Limited have signed a US$246 million Investment Promotion and Protection Agreement for phase two of the Nambala Solar Power Plant in Mumbwa, adding 250 MW of solar generation capacity to the country’s energy mix.
The latest investment follows phase one of the project, a 100 MW solar plant valued at US$54 million. Combined with the existing facility, the development will raise total generation capacity to 350 MW, with cumulative investment reaching US$300 million.
Related news: JA Solar DeepBlue 5.0 preferred as developers seek bankable solar performance
Zambia Development Agency Director General Albert Halwampa said the investment supports President Hakainde Hichilema’s target of increasing Zambia’s power generation capacity from 3,800 MW to 10,000 MW.
Halwampa said energy investments remain critical to the growth of key sectors including mining, infrastructure and tourism, adding that reliable electricity supply is essential for economic expansion.
He also pointed to recent government reforms aimed at reducing approval timelines for energy projects, which have improved the investment climate for developers and financiers.
According to Halwampa, rising electricity demand linked to Zambia’s ambition to increase annual copper production to three million tonnes is creating new opportunities for domestic power consumption and electricity exports through the Southern African Power Pool.
Sunshare Energy Limited Assistant Director Bin Chen said the second phase of the project is expected to create 120 jobs during construction and 240 permanent positions once operational.
Chen said securing the Investment Promotion and Protection Agreement was a key requirement before committing additional capital to the project. He added that the agreement strengthens investor confidence and reinforces Zambia’s ambition to achieve 10,000 MW of installed power capacity by 2031.
He said the investment demonstrates Zambia’s growing readiness to host large scale renewable energy projects.
Author: Bryan Groenendaal
For enquiries on the African continent, email: africa@jasolar.com
