Soleos Energy Plans Up to 5,000MW Solar Investment in Zambia
Soleos Energy Limited, a global solar power developer, in partnership with Zambia’s Octane Investment Limited, has expressed strong interest in developing 1,000 megawatts of solar power generation capacity in Zambia by 2030, with plans to scale the investment to as much as 5,000MW over the long term. The proposed solar power project is expected to be implemented in Zambia’s Central Province, subject to regulatory approvals and project readiness.
The announcement was made during a meeting with the Minister of Energy, Hon. Makozo Chikote, who welcomed the proposed investment but urged the developers to move swiftly from expressions of interest to concrete implementation. The minister cautioned against speculative engagements, noting that Government is keen to work with investors who demonstrate clear execution capability.
Minister Chikote reaffirmed Government’s commitment to attracting investment across all renewable energy technologies as part of a diversified and resilient national energy mix. He said the strategy is designed not only to meet growing domestic electricity demand but also to position Zambia as a net exporter of power within the Southern African region.
He further disclosed that Government has significantly streamlined the investment approval process, reducing timelines from more than six months to as little as 48 hours. Energy projects are now prioritised across all Government institutions, including the Attorney General’s Chambers, with delays no longer being tolerated.
Soleos Energy Chief Executive Officer and Director, Mr Dhaval Jiyani, who led the delegation, said the company, together with Octane Investment Limited, is ready to commence preparatory works immediately and could begin project implementation within three months. Mr Jiyani noted that Soleos is already executing major solar projects in the region, including a 250MW solar power plant in Lubumbashi in the Democratic Republic of Congo. He appealed to the Ministry of Energy to facilitate the fast-tracking of preparatory and approval processes to enable timely execution of the Zambian project.
Zambia is currently implementing an accelerated renewable energy development programme, with more than 30 solar power plants scheduled for completion between now and 2027. The initiative is aimed at addressing electricity supply deficits, enhancing energy security, and supporting the country’s long-term objective of supplying power to both domestic and regional export markets.
Source: angolanminingoilandgas.com
