Zambia Targets $11.6B to Power Energy Transformation
Zambia will require US$11.6 billion in investments by 2030 to expand electricity generation and meet fast-growing national demand, Energy Minister Makozo Chikote has announced.
Speaking through Director of Energy, Mr Mafayo Ziba, at the official opening of the Commercial and Industrial (C&I) Energy + Storage Summit Zambia 2025, the Minister said the country’s energy sector had reached a decisive moment and urged investors to seize opportunities in renewables, storage, and industrial power solutions.
Electricity demand is projected to increase by 121 percent by 2030, with generation capacity needing to rise from 3.7 gigawatts (GW) in 2023 to 10GW. Renewable energy sources, particularly solar and wind, are expected to grow from just 3 percent of the energy mix in 2023 to 33 percent by 2030.
“Meeting this demand will require transformative investment in Zambia’s power sector,” said Mr Chikote. “Of the US$11.6 billion needed, US$9.5 billion will be mobilised from private sources under the Mission 300 initiative. The time to invest in Zambia’s energy future is now.”
To encourage private participation, government has rolled out reforms including the Open Access Framework, Multi-Year Tariff Framework, Net Metering, and a Single Licensing System.
In a separate address, Senior Energy Officer Eng Palanga Ngoma noted that reforms were already producing positive results. He cited the establishment of the Energy Company and implementation of the Open Access Framework as initiatives “gradually reshaping the country’s energy sector.”
The Minister’s remarks also underlined the pivotal role of the C&I sector, with priorities focusing on modernising the grid through storage and hybrid systems, expanding private-led generation, and strengthening regional power trading.
The two-day summit, organised by the Vuka Group and partners, has convened policymakers, financiers, and industry leaders to explore solutions for Zambia’s long-term energy security and competitiveness.
Reaffirming government’s commitment, Mr Ziba said: “As a Ministry, we stand ready to work with the private sector, financiers, and technology partners to unlock Zambia’s energy potential. Together, we can power growth, drive industrialisation, and deliver a sustainable energy future for all.”
