Globeleq’s 40 MW Kafue Solar Project Reaches Financial Close In Zambia

Zambia has reached a major milestone in its renewable energy development with the financial close of the 40 MWac Kafue Solar Project, developed by Globeleq. The project is the first to achieve financial close under the GET FiT Zambia Programme and will now move into the construction phase.

The financial close was commemorated in Lusaka at an event attended by senior government officials, financiers, diplomats and private-sector representatives. The milestone is expected to support Zambia’s efforts to expand its solar generation capacity and diversify its electricity supply.

Finance Minister and Acting Minister of Energy Situmbeko Musokotwane attended the event, along with British High Commissioner Rebecca Terzeon, His Majesty’s Trade Commissioner for Africa Alastair Long and German Ambassador Soenke Siemon. Representatives from KfW, Standard Chartered, ZESCO and Globeleq also participated.

The project brings together support from the governments of Zambia, the United Kingdom and Germany, along with development finance and private-sector investment. KfW and Standard Chartered are among the financial institutions involved, while ZESCO and Globeleq are key project partners.

The 40 MWac solar facility is expected to contribute to Zambia’s growing need for reliable and diversified electricity generation. The project also demonstrates the role of the GET FiT Zambia Programme in supporting renewable energy investments and helping projects progress from development to construction.

Globeleq’s Kafue project represents an important step in Zambia’s efforts to increase renewable power generation and attract private investment into the energy sector. With financial close completed, construction can now begin, moving the project from planning and financing toward implementation.

The milestone also highlights growing cooperation between Zambia and international development and investment partners in advancing clean energy infrastructure. As construction begins, the Kafue Solar Project is expected to become part of Zambia’s expanding solar power capacity and contribute to the country’s broader renewable energy ambitions.