AfDB Boosts Zambia’s Renewable Energy Drive with $14.5 Million Investment in Solar Project
The Board of Directors of the African Development Bank has approved a $14.54 million financing package to support the Garneton North 20 megawatt solar project, in Zambia’s Copperbelt Province, catalysing the country’s renewable energy expansion, and addressing the energy deficit.
When operational, the project will provide 82,000 people with clean, reliable electricity and eliminate 58,740 tons of CO2 emissions per annum.
The approval, comprising $7.27 million from the African Development Bank’s own resources, and matching concessional financing from a Development Finance Institution, demonstrates a bold commitment to closing Zambia’s energy gap while advancing the Mission 300 goal of providing 300 million Africans with electricity access by 2030. Zambia is among the first cohort of countries that launched national energy compacts under Mission 300, in January 2025.
The $24.5 million project will design, construct, operate, and maintain the 20 megawatt solar plant, to be connected to the national grid via a 10 km, 33 kV power line. Under a 25-year take-or-pay Power Purchase Agreement, the Zambia Electricity Supply Corporation Limited will offtake all electricity generated from the plant.
“The project marks a key milestone in Zambia’s efforts to restore confidence in its power sector, attract private sector investment, and drive progress toward closing the energy gap and achieving Mission 300 goals,” said Wale Shonibare, Director of Energy Financial Solutions, Policy, and Regulation at the African Development Bank.
The Garneton North 20MW Solar Project is one of six projects selected by the Zambia government under the country’s Global Energy Transfer Feed-in Tariffs (GETFiT) programme, designed to unlock private-sector investment in small- and medium-scale renewable energy independent power projects in the country.
It will hire 90 people during construction compromising 5 women and 50 youth, and will hire 10 people during operations, comprising 2 females and 6 youth. The project will add critical capacity to Zambia’s strained power grid, reducing blackouts and improving energy security.
The GETFiT programme approach will facilitate the timely procurement of a total 120 MW of renewable energy capacity; diversify Zambia’s power mix, and demonstrate that Zambia’s power sector is once again bankable for private investment.
“Through the successful implementation of this project and the broader programme, Zambia will demonstrate its strong commitment to diversifying its energy mix away from hydropower and enhancing energy security,” said Jing Li, Division Manager, Energy Financial Solutions at the African Development Bank. “By expanding renewable generation capacity, the project will help reduce the frequency and severity of power outages, ensure a more reliable electricity supply, and contribute to maintaining cost-reflective tariffs for consumers.”
The Garneton North 20MW Solar Project aligns with the African Development Bank’s Ten-Year Strategy (2024–2033), and the New Deal on Energy for Africa, advancing a low-carbon development path and facilitating universal electricity access through clean energy.
It further supports the Bank’s climate change, gender, youth employment, and resilience strategies, as well as private-sector-led renewable energy development under Mission 300.
