AfDB Approves $14.54 Million Investment to Boost Zambia’s Renewable Energy Ambitions
The African Development Bank Group has approved a $14.54 million financing package to support the development of the Garneton North 20-megawatt solar power project in Zambia’s Copperbelt Province, marking a major step towards expanding the country’s clean energy capacity and reducing power shortages.
The investment includes $7.27 million from the Bank’s own resources, with an equal amount coming as concessional financing from a Development Finance Institution. The package reflects the Bank’s commitment to helping close Zambia’s energy deficit, while advancing the Mission 300 goal of providing 300 million Africans with electricity access by 2030. Zambia joined the first cohort of countries to launch national energy compacts under the Mission in January 2025.
When completed, the solar project will supply clean, reliable power to at least 82,000 people, while reducing annual carbon emissions by an estimated 58,740 tonnes. The $24.5 million initiative will design, build, operate, and maintain the plant, which will be connected to the national grid through a 10-kilometre, 33 kV power line. The Zambia Electricity Supply Corporation Limited (ZESCO) will purchase all generated power under a 25-year take-or-pay Power Purchase Agreement.
Wale Shonibare, Director of Energy Financial Solutions, Policy, and Regulation at the Bank, described the investment as “a key milestone in Zambia’s efforts to restore confidence in its power sector, attract private sector investment, and close the energy gap while contributing to Mission 300.”
The Garneton North project is among six renewable energy initiatives selected under Zambia’s Global Energy Transfer Feed-in Tariff (GETFiT) programme, which aims to unlock private investment in small- and medium-scale independent power projects. In total, the programme is expected to facilitate 120 MW of new renewable capacity, helping diversify Zambia’s energy mix and strengthen energy security.
During construction, the project will employ 90 people, including 5 women and 50 young people, and 10 staff during operations. It is expected to ease pressure on Zambia’s strained power grid, reducing blackouts and supporting a more reliable electricity supply.
Jing Li, Division Manager for Energy Financial Solutions at the African Development Bank, said the project demonstrates Zambia’s commitment to shifting away from heavy dependence on hydropower. “By expanding renewable generation capacity, the project will reduce the frequency of power outages, ensure a more stable power supply, and help sustain cost-reflective tariffs,” she noted.
The initiative aligns with the Bank’s Ten-Year Strategy (2024–2033) and the New Deal on Energy for Africa, while supporting broader goals including climate action, youth employment, private-sector participation, and gender inclusion.
Once operational, the Garneton North solar plant will stand as a significant contribution to Zambia’s transition to clean energy, building confidence among private investors and strengthening the country’s long-term energy resilience.
