The Zambia Development Agency (ZDA) and Sunshare Energy Limited (SEL) have signed a USD246 million Investment Promotion and Protection Agreement (IPPA) for phase two of the Nambala Solar Power Plant in Mumbwa, with a combined capacity of 250MW.
This development follows phase one of the project, a 100MW solar plant valued at USD54 million, with an existing plant bringing total generation capacity to 350MW and overall investment to USD300 million.
ZDA Director General Albert Halwampa welcomed SEL’s continued investment, citing its alignment with President Hakainde Hichilema’s directive to scale up national power generation from 3,800MW to 10,000MW.
Mr Halwampa underscored the importance of prioritizing energy investments, noting that sectors such as mining, infrastructure, and tourism cannot thrive without a reliable power supply.
He also highlighted government reforms that have significantly reduced approval timelines for energy projects, creating a more investor-friendly environment.
He further noted that rising power demand, driven by plans to increase copper production to three million tonnes annually, presents opportunities for both domestic use and regional power exports through the Southern African Power Pool (SAPP).
Meanwhile, SEL Assistant Director Bin Chen said the additional investment is expected to create 120 jobs during construction and 240 permanent jobs.
Mr Chen emphasized that securing the IPPA was critical before committing further investment, noting that the agreement boosts investor confidence and supports Zambia’s target of generating 10,000MW of power by 2031.
He added that the move signals Zambia’s readiness for large-scale energy projects.
