Soleos and Octane Target 1,000MW Solar Investment in Zambia by 2030
Soleos Energy Limited, a global solar power developer, together with its Zambian partner, Octane Investment Limited, has expressed strong interest in investing 1,000 megawatts (MW) of solar power generation capacity in Zambia by 2030, with plans to scale up the investment to 5,000MW in the long term.
The proposed solar project is expected to be implemented in Central Province.
The two companies made the announcement during a meeting with Minister of Energy, Hon. Makozo Chikote, who welcomed the proposal and urged the investors to move beyond expressions of interest to actual implementation. He cautioned against investors who fail to follow through after initial engagements.
Minister Chikote reaffirmed Government’s commitment to attracting investment in all renewable energy technologies as part of a diversified energy mix. He said this approach is aimed at meeting Zambia’s domestic electricity demand while positioning the country as a net exporter of power within the region.
He further disclosed that Government has significantly streamlined the investment approval process, reducing timelines from more than six months to 48 hours.
Energy projects, he said, are now prioritised across Government institutions, including the Attorney General’s Chambers, emphasising that delays will no longer be tolerated.
Soleos Chief Executive Officer and Director Mr Dhaval Jiyani, who led the delegation, said the company, in partnership 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 undertaking major solar projects in the region, including a 250MW solar power plant in Lubumbashi, Democratic Republic of Congo, and appealed to the Ministry of Energy to facilitate the fast-tracking of preparatory processes in Zambia.
Zambia is currently rolling out an accelerated renewable energy programme, with more than 30 solar power plants scheduled for completion between now and 2027.
The programme is aimed at addressing electricity deficits, strengthening energy security, and supporting the country’s long-term ambition of supplying power to both domestic and export markets.
