Zambia Signs US$1.5 Billion Energy Investment Deal with CMEC for 900MW Power Expansion
Zambia has secured a US$1.5 billion investment in its energy sector following an agreement between the Zambia Development Agency (ZDA) and the China Machinery Engineering Corporation, aimed at expanding national power generation capacity.
The investment will support the development of a diversified 900-megawatt (MW) power portfolio comprising three equal components: a 300MW coal-fired thermal power plant, a 300MW solar facility, and a 300MW wind energy project.
ZDA Director General Albert Halwampa said the project is a major milestone in Zambia’s ambition to scale up electricity generation to 10,000MW by 2031.
“This investment is a major step towards achieving Zambia’s target of 10,000 megawatts of installed power capacity by 2031. It reflects growing investor confidence in our energy sector and our broader economic reforms,” Mr Halwampa said.
He added that the region’s rising electricity demand presents Zambia with an opportunity to become a net power exporter while advancing domestic industrialisation.
Zambia’s Ambassador to China, Ivan Zyuulu, welcomed the development, describing it as evidence of deepening economic cooperation between Zambia and China.
“It is a clear demonstration of the confidence that Chinese enterprises have in Zambia’s investment climate. The Embassy will continue to facilitate strategic partnerships that translate into tangible development outcomes,” he said.
The China Machinery Engineering Corporation has confirmed plans to visit Zambia in June 2026 to begin feasibility studies, noting that it has both the financial and technical capacity to develop all three power plants simultaneously.
The ZDA and the Zambian Embassy in Beijing are currently on a joint investment promotion roadshow in China, aimed at positioning Zambia as a prime destination for large-scale infrastructure investment.
