Zambia Signs PPA for 500 MW Solar Park Backed by South Korean Investor

Zambia has signed a Power Purchase Agreement (PPA) for a 500 MW solar power project proposed by a South Korean investor, marking one of the country’s largest renewable energy developments to date, according to industry reports.

The agreement secures long-term electricity offtake for the planned solar park, with Zambia’s state utility expected to purchase power generated from the project once it becomes operational.

The 500 MW project is set to significantly expand Zambia’s solar generation capacity and forms part of the country’s broader strategy to diversify its energy mix beyond hydropower, which currently dominates its electricity supply.

Zambia’s power sector has been increasingly vulnerable to climate-related fluctuations, particularly drought conditions that impact hydropower output. The addition of large-scale solar capacity is expected to enhance grid stability and improve energy security.

The project also highlights growing foreign investor interest in Africa’s renewable energy sector, with international developers increasingly participating in utility-scale solar developments supported by long-term PPAs.

Once completed, the solar park is expected to play a key role in strengthening Zambia’s renewable energy pipeline and supporting rising electricity demand across residential and industrial segments.