Zambia has launched its largest grid-connected solar power project to date with the completion of the 100MW Chisamba solar photovoltaic (PV) facility.
Developed by Kariba North Bank Extension Power Corporation (KNBEPC), a subsidiary of state utility Zesco, the project represents a major step forward in the country’s efforts to diversify its energy sources.
The solar plant, situated in Chisamba is aimed at reducing the country’s dependence on hydroelectric power, which has been increasingly affected by droughts. The US $100M project was financed through a mix of commercial and institutional support. Stanbic Bank contributed US $70M in project financing, while the remaining US $30M was invested directly by KNBEPC and Zesco. Significantly, the funding structure did not require sovereign guarantees, marking a positive shift toward more sustainable and independent energy investments in Zambia.
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Legal standards
Legal guidance for the financing deal was provided by Bowmans, acting on behalf of Stanbic Bank. The advisory team was led by partner Joshua Mwamulima, with assistance from Bwalya Chilufya-Musonda and associate Mwansa Nachula. Their involvement ensured the financing arrangements adhered to legal and regulatory standards, helping to facilitate the timely execution of the project.
Construction was carried out by EPC contractor Power China, which Zesco praised for its commitment and flexibility. The contractor commenced work before all loan agreements had been finalized, a move Zesco described as essential to the project’s success. This cooperation helped maintain the construction timeline and contributed to the project’s early completion.
Zesco has confirmed that a second phase of the Chisamba project is already in development. The upcoming addition will add another 100MW to the national grid, further strengthening Zambia’s push toward renewable energy and improved energy security. Details about the second phase are expected to be released in the near future.
