Zambia’s Ministry of Energy has announced that the country will require an investment of approximately US$11.6 billion over the next six years to expand electricity generation and meet the rapidly growing energy demand.
According to Energy Minister Makozo Chikote, Zambia’s electricity demand is projected to grow by 121 percent by 2030, necessitating an increase in generation capacity from 3.7 gigawatts (GW) in 2023 to 10 GW.
Renewable energy sources such as solar and wind are expected to grow significantly, increasing their share of the energy mix from 3 percent in 2023 to 33 percent by 2030.
“Meeting this demand will require transformative investments in Zambia’s power sector,” Minister Chikote said in a speech delivered on his behalf by Mr. Mafayo Ziba, Director for Energy at the Ministry, during the official opening of the Commercial and Industrial (C&I) Energy + Storage Summit Zambia 2025.
Minister Chikote stated that the country’s energy sector is entering a decisive phase and urged investors to seize opportunities in renewables, energy storage, and industrial power solutions.
“Out of the US$11.6 billion needed, US$9.5 billion is expected to be mobilized from private sources under the Mission 300 initiative. The time to invest in Zambia’s energy future is now,” he added.
To support private sector participation, Mr. Chikote highlighted several government-led reforms, including the introduction of the Open Access Framework, the Multi-Year Tariff Framework, Net Metering, and a Single Licensing System.
Senior Energy Officer at the Ministry of Energy, Eng. Palanga Ngoma, noted that the reforms are already yielding positive results. He cited the establishment of the Energy Company and the implementation of the Open Access Framework as key developments that are gradually transforming the country’s energy sector.
Source: https://energynewsafrica.com
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