Soleos Energy Limited, a global solar power developer, and its Zambian partner, Octane Investment Limited, today met Minister of Energy Makozo Chikote to express strong interest in investing 1,000 megawatts (MW) of solar power in Zambia by 2030, with ambitions to scale up to 5,000MW in the long term.
The proposed investment will be implemented in Central Province.
During the meeting, Minister Chikote welcomed the proposed investment and encouraged the two companies to move decisively from expressions of interest to actual implementation, cautioning against investors who disappear after initial engagements.
He reaffirmed Government’s commitment to promoting investment across all renewable energy technologies as part of a diversified energy mix, aimed at meeting domestic power demand and positioning Zambia as a net exporter of electricity.
The Minister noted that the investment application process has been drastically reduced from over six months to just 48 hours, with energy projects now prioritised across Government, including at the Attorney General’s Chambers, stressing that there is no room for time wasters.
Soleos Chief Executive Officer and Director Dhaval Jiyani, who led the delegation, said the company, working with Octane Investment Limited, was ready to commence preparatory works immediately and could begin implementation within three months.
He added that Soleos is already implementing major regional projects, including a 250MW solar plant in Lubumbashi, Democratic Republic of Congo, and requested the Ministry of Energy’s facilitation to fast-track preparatory processes in Zambia.
Zambia is implementing an accelerated renewable energy programme and has lined up more than 30 solar power plants scheduled for completion between now and 2027, aimed at mitigating the electricity deficit, strengthening energy security, and supporting the country’s long-term objective of supplying power to both the domestic and export markets.