Independent power producer Serengeti Energy has achieved financial close for its 32 MWp Ilute Solar PV project in Zambia, paving the way for construction to begin in January 2026. China Power Engineering Consulting Company has been appointed to provide engineering, procurement, and construction services for the project. The Ilute Solar Project marks a significant step for Serengeti Energy in participating directly in the Southern African Power Pool.
Anton-Louis Olivier, CEO of Serengeti Energy, stated that the project demonstrates how market-based electricity trading can attract investment, reduce dependence on government guarantees, and enhance energy security across the region. The project secured $26 million in financing from a consortium of development finance institutions and investors, including the Dutch Entrepreneurial Development Bank, the Sustainable Energy Fund for Africa, Triodos Investment Management, and EDFI Management.
The Ilute Solar Project is expected to achieve commercial operation by the end of 2026. Once operational, it will supply electricity to the Southern African Power Pool through a power purchase agreement with GreenCo Power Services, contributing to the region’s renewable energy capacity and supporting broader efforts to modernise electricity markets in Southern Africa.
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