on ZCCM (EPA:MLZAM)
ZCCM-IH Acquires 35% Stake in Maamba Solar Energy
ZCCM Investments Holdings Plc (ZCCM-IH) has approved a strategic investment in Maamba Solar Energy Limited (MSEL) with a 35% shareholding. The remaining 65% will be held by Nava Global PTE Limited. This investment marks ZCCM-IH's expansion into renewable energy, contributing to a 100MW solar power project in Zambia's Sinazongwe District. A special purpose vehicle for solar projects, MSEL was incorporated in January 2025.
The $90 million project aims to enhance Zambia's renewable energy capacity, aligning with the country's energy diversification policy. It involves a financing structure of 70% debt and 30% equity. ZCCM-IH's equity contribution is $9.45 million. A 20-year power purchase agreement with ZESCO was signed in May 2025. This project is expected to support job creation and strengthen local economic development, with commissioning set for July 2026.
R. E.
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