Stardust Solar Expands into Zambia with New Zambia solar projects
In a significant move underscoring its global expansion strategy, Stardust Solar Energy Inc. (TSXV: SUN, OTCQB: SUNXF, FSE: 6330) is making a strategic entry into the African renewable energy market by advancing utility-scale solar projects in Zambia. This initiative, built on a foundation of diplomatic, governmental, and utility-level engagements, marks a pivotal step in addressing Zambia’s growing energy needs while expanding Stardust Solar’s international footprint.
A Landmark Power Purchase Agreement for Zambia solar projects
At the heart of this expansion is a landmark 20-year, government-backed power purchase agreement (PPA) secured with ZESCO, Zambia’s national utility. The agreement greenlights the development of a 30-megawatt (MW) utility-scale solar project. This long-term PPA is poised to generate substantial contracted revenue and create recurring royalty cash flows for the company, establishing a stable and predictable financial foundation for its operations in the region.
To support this ambitious project and provide necessary working capital, Stardust Solar has successfully completed a recent financing round, ensuring the necessary resources are in place to meet development milestones.
Why Zambia? A Market Primed for Zambia solar projects
Stardust Solar’s move into Zambia is a calculated decision based on the country’s pressing energy demands and favorable conditions for solar power generation. Zambia, a nation of over 20 million people, is actively working to overcome a structural power deficit and diversify an energy grid that is predominantly reliant on hydropower.
The country faces accelerating industrial demand for electricity, making the integration of reliable and sustainable energy sources a national priority. With its abundant solar resources, Zambia represents an ideal market for large-scale solar infrastructure. The government’s focus on energy security and its openness to foreign investment create a welcoming environment for partners like Stardust Solar to develop and deploy clean energy solutions.
Forging Partnerships for a Sustainable Future in Zambia solar projects
The success of this venture hinges on strong local collaboration. Stardust Solar’s leadership has been actively coordinating with ZESCO and local partners to advance project planning, ensure regulatory alignment, and navigate key development stages.
Eamonn McHugh, Chief Operating Officer of Stardust Solar, highlighted the company’s collaborative approach. He emphasized the importance of forging partnerships with governments and utilities to effectively meet the world’s accelerating demand for energy and to deploy critical clean energy infrastructure. This engagement in Zambia is a clear reflection of the company’s broader strategy to build its global renewable energy platform through disciplined planning and strategic alignments.
