Zambia has secured a $246 million investment agreement with Sunshare Energy Limited for the Phase II expansion of the Nambala Solar Power Plant in Mumbwa — a deal that will add 250 megawatts of renewable generation capacity to the existing 100MW Phase I facility, pushing the plant’s total planned capacity to 350MW and cumulative investment to approximately $300 million.
The Investment Promotion and Protection Agreement was signed between the Zambia Development Agency and Sunshare Energy, with the Phase I installation — valued at $54 million — already operational. ZDA Director General Albert Halwampa said the expansion is aligned with the government’s national electricity target of scaling installed generation capacity from 3,800MW to 10,000MW by 2031, driven in large part by the enormous power demands of Zambia’s mining sector as the country pursues an ambition to triple copper production to three million tonnes annually. He noted that recent policy reforms have sharply reduced approval timelines for large-scale energy investments, making Zambia a more competitive destination for infrastructure capital.
Halwampa also highlighted the opportunity for Zambia to become a regional electricity exporter through the Southern African Power Pool, leveraging expanded renewable generation capacity to supply neighbouring landlocked countries that face their own power deficits. Sunshare Energy Assistant Director Bin Chen said the project is expected to create approximately 120 construction-phase jobs and around 240 permanent positions once the plant reaches full operation. He described the signing of the IPPA as a confidence-building milestone that provides a stable legal and commercial framework to attract further capital into Zambia’s renewable energy sector.
Source: Angolan Mining Oil and Gas