The African Development Bank has approved a $14.54 million financing package to support the development of a 20-megawatt solar power plant in Zambia’s Copperbelt Province. The Garneton North solar project is expected to provide clean and reliable electricity to approximately 82,000 people and reduce carbon dioxide emissions by nearly 58,740 tons annually. The project is part of Zambia’s efforts to expand its renewable energy capacity and address its persistent energy deficit.
The financing package includes $7.27 million from the African Development Bank’s own resources, with an equivalent amount of concessional financing from another Development Finance Institution. The project represents a total investment of $24.5 million and will involve the design, construction, operation, and maintenance of a 20 MW solar power plant. The plant will be connected to Zambia’s national grid through a 10-kilometer, 33 kV transmission line.
The project is expected to create around 90 jobs during construction, including opportunities for women and youth, and will employ an additional 10 people during operations. The electricity generated will be sold to the Zambia Electricity Supply Corporation Limited (ZESCO) under a 25-year take-or-pay Power Purchase Agreement, ensuring stable revenues and reliable power supply.
The Garneton North Solar Project is part of Zambia’s Global Energy Transfer Feed-in Tariffs (GETFiT) program, which aims to unlock private investment in small- and medium-scale renewable energy independent power projects. The project aligns closely with the African Development Bank’s Ten-Year Strategy (2024–2033) and the New Deal on Energy for Africa, both of which promote low-carbon growth and universal access to clean energy.
The project also advances the Bank’s objectives related to climate resilience, gender inclusion, and youth employment, while supporting private-sector-led renewable energy initiatives across Africa under Mission 300. Mission 300 aims to provide 300 million Africans with electricity access by 2030, and Zambia is among the first countries to launch national energy compacts under this mission.
According to Wale Shonibare, Director of Energy Financial Solutions, Policy, and Regulation at the African Development Bank, the project marks an important milestone in Zambia’s energy sector reform and will help restore investor confidence, attract private sector participation, and accelerate progress toward achieving Mission 300 targets. Jing Li, Division Manager of Energy Financial Solutions at the African Development Bank, stated that the project reinforces Zambia’s commitment to diversifying its energy mix beyond hydropower and will strengthen grid stability, reduce the frequency of blackouts, and support cost-reflective electricity tariffs for consumers.