Korean investors represented by KS Eco Solutions Holdings Limited have expressed interest in investing in the development of nuclear power plants and solar energy projects in Zambia.
The group met with Permanent Secretary for Electricity, Arnold Simwaba, and his team of energy experts to discuss potential investments, including the establishment of nuclear power stations in Zambia.
Eng. Simwaba welcomed the proposed investment, noting that Zambia’s rapidly growing economy requires an expansion of energy sources to meet increasing demand.
Zambia currently generates about 4,000 megawatts of electricity and is targeting 10,000 megawatts to support the government’s ambition of producing three million tonnes of copper annually by 2030.
He added that while Zambia has recently placed significant focus on solar energy development, the country remains open to diversified investments that will strengthen long-term energy security.
Amb. Banda said discussions on Korean investments in Zambia’s energy sector had been ongoing for some time and expressed satisfaction that the engagements were now beginning to materialise.
He described South Korea as a reliable partner with proven expertise and a strong track record of delivering successful investment projects.
The proposed investments are expected to further deepen Zambia–Korea cooperation and contribute significantly to the country’s efforts to diversify and expand its electricity generation capacity.
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