Terra Metals Inc. has announced a significant strategic equity investment partnership involving the Investment Bank of Africa (IBA) and the Nalolo Solar Power Energy Company (NASPEC). This collaboration is an important step forward in advancing the Nalolo Solar Project, which is one of Zambia’s key initiatives for expanding renewable energy production and ensuring a sustainable energy future for the country.
Terra Metals Inc. has vested interests in the Nalolo Solar Project through its principal shareholders, who also hold shares in NASPEC. This connection reflects Terra Metals’ long-term commitment to supporting Zambia’s clean energy transition and its broader goal of fostering sustainable economic growth in the region.
Brian Chisala, Executive Director of Terra Metals Inc., stated, “We are thrilled to announce this strategic partnership, which represents a major step forward for the Nalolo and Lukulu Solar Projects.”
Mushinge Mumena, Chairman of Terra Metals Inc, said, “This collaboration highlights our commitment to delivering clean energy solutions while advancing Zambia’s sustainable development goals.”
Mushinge Mumena, Chairman of Terra Metals Inc, said, “This collaboration highlights our commitment to delivering clean energy solutions while advancing Zambia’s sustainable development goals.”
Robert Solomon, Chief Financial Officer of the Investment Bank of Africa (IBA), mentioned,“This investment reflects IBA’s strategy of channeling capital into high-value, sustainable infrastructure projects that generate strong financial returns while mitigating long-term risks. The Nalolo Solar Project is underpinned by solid fundamentals, rising energy demand, and government support, ensuring both profitability for stakeholders and measurable socio-economic impact for Zambia.”
“This partnership is a defining moment for NASPEC and Zambia’s renewable energy journey. With IBA’s strategic investment and Terra Metals’ vested interests, the Nalolo Solar Project is positioned to deliver clean, reliable, and affordable power while creating employment, driving industrial growth, and enhancing climate resilience,” remarked Dr. Victor Ryan, Chairman of NASPEC.
The Nalolo Solar Project is expected to have a transformative impact on Zambia’s energy landscape. It will contribute to the nation’s economic growth by generating new business opportunities and expanding employment for local communities. The project will also enhance Zambia’s energy security by diversifying its energy sources and reducing reliance on traditional power generation methods. In addition, it plays a key role in supporting the country’s climate objectives and sustainability commitments, positioning Zambia as a leader in renewable energy development in the region.
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