By Cecilia Chiluba/Zambia/Lusaka
Zambia Development Agency (ZDA) in partnership with the Zambian Embassy in Beijing, China, has secured a US$1.5 billion investment commitment in the energy sector.
The investment commitment by China Machinery Engineering Corporation (CMEC Group), will see the development of a diversified 900-megawatt (MW) power portfolio in Zambia.
According to ZDA, the project will comprise three components including a 300MW coal-fired thermal power plant, a 300MW solar power facility, and a 300MW wind power plant.
ZDA Director General, Albert Halwampa, noted that the investment is a major step towards achieving Zambia’s target of 10,000 MW of installed power capacity by 2031.
“It reflects growing investor confidence in our energy sector and our broader economic reforms,” Mr. Halwampa stated.
He noted that the demand for electricity in the region remains very high, presenting Zambia with a strategic opportunity to position itself as a net exporter of power while supporting domestic industrialization.
And in welcoming the development, Zambia’s Ambassador to China in Beijing, Ivan Zyuulu, emphasized the importance of deepening economic cooperation between the two countries.
Mr. Zyuulu explained that the investment underscores the strong and growing bilateral relations between Zambia and China.
“It is a clear demonstration of the confidence that Chinese enterprises have in Zambia’s investment climate,” he stated.
Ambassador Zyuulu said the Embassy will continue to facilitate strategic partnerships that translate into tangible development outcomes for our country.
Meanwhile, CMEC Group has indicated that it will visit Zambia in June 2026 to commence feasibility studies of the project. “The group has the financial and technical capacity to commence construction of all three power plants simultaneously,” it assured.
