$96 million solar investment to power Zambia's growth

German energy company 7YRDS have confirmed a $96 million investment to create solar power plants in the Western Province.

Speaking during a meeting at State House in Lusaka, the energy company revealed plans to create two solar energy plants in Kafue and Sesheke, capable of generating 100 megawatts (MW) of power.

President Hichilema praised the investment, acknowledging the real issue of Zambia’s power deficit, and emphasised the government’s commitment to collaboration with international partners to strengthen Zambia’s energy sector. The new investment, which will create up to 1,000 jobs for Zambians, will have the potential to spur economic growth in the country as well as help towards achieving universal access to energy for all Zambians by 2030. The investment comes as mining giant First Quantum Minerals announced a collaboration with ZESCO—Zambia’s state-owned power company—to stabilise the country’s power grid.

Zambia currently has the potential to generate 2,300 MW of solar energy and up to 3,000 MW of wind, yet only 76 MW of solar energy has been installed. The investment will contribute to boosting Zambia's vast power generation capacity, with a particular focus on meeting the energy needs of the mining and agriculture sectors, the country’s largest employers.

German Ambassador to Zambia, Anne Wagner-Mitchell, assured Germany’s interest in supporting Zambia’s energy sector, revealing that 7YRDS has already secured the necessary land in the Western Province and has committed $1 million for initial studies. The company plans to begin operations early next year.

The company's founder and managing director, Philip Jansen, praised President Hichilema's efforts in promoting Zambia as an attractive investment destination. He also cited the recent visit by German President Frank-Walter Steinmeier as a impetus for increased interest in investing in Zambia, crediting the country's peaceful environment and stable policies.