African Development Bank Supports Zambia’s $24.5 Million Garneton North 20 MW Solar Project With $14.54 Million Financing To Advance Mission 300 Goals

The African Development Bank’s Board of Directors has approved a $14.54 million financing package to support the Garneton North 20-megawatt (MW) solar project in Zambia’s Copperbelt Province. This initiative represents a significant step toward expanding the country’s renewable energy capacity and addressing its persistent energy deficit. Once operational, the project will provide clean and reliable electricity to approximately 82,000 people while reducing carbon dioxide emissions by nearly 58,740 tons annually. 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.

This combined effort underscores the Bank’s strong commitment to bridging Zambia’s energy gap and advancing the broader Mission 300 initiative, which aims to provide 300 million Africans with electricity access by 2030. Zambia is among the first countries to launch national energy compacts under this mission, starting in January 2025. The Garneton North solar 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.

All 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. 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. He emphasized that it will help restore investor confidence, attract private sector participation, and accelerate progress toward achieving Mission 300 targets.

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. Garneton North is one of six projects selected under this initiative, collectively expected to contribute a total of 120 MW of renewable capacity to the national grid. During construction, the project will create around 90 jobs, including opportunities for women and youth, and will employ an additional 10 people during operations. Beyond job creation, the project will add essential capacity to Zambia’s electricity grid, helping reduce power shortages and improving national energy security.

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. By expanding renewable energy generation, the project will strengthen grid stability, reduce the frequency of blackouts, and support cost-reflective electricity tariffs for consumers. The Garneton North Solar 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. It 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.