Zambia’s power utility company, ZESCO Limited, Stanbic Bank Zambia, and GreenCo Power Services Limited have officially signed a Memorandum of Understanding (MoU) to jointly develop and implement a portfolio of renewable energy projects under the brand name “ZAMWATT.”
The signing of the MoU marks a significant milestone in Zambia’s journey towards a more sustainable, secure, and diversified energy future.
The partnership represents a major step forward in advancing sustainable energy solutions within Zambia’s energy sector, with a strong focus on strengthening energy security, promoting renewable energy investment, and supporting the country’s long-term development and clean energy transition agenda.
Speaking during the signing ceremony at Stanbic’s Head Office, ZESCO Limited Acting Managing Director, Eng. Francis Namakanda, said the agreement reflects a shared commitment to transforming Zambia’s energy sector through innovation, collaboration, and sustainable development.
He noted that the partnership will unlock new investment opportunities, accelerate renewable energy deployment, and strengthen infrastructure development across the country.
The Chief Executive Officer of Stanbic Bank Zambia, Mwindwa Siakalima, highlighted that the partnership demonstrates the bank’s continued commitment to financing impactful and sustainable projects that contribute to Zambia’s economic transformation. He added that the ZAMWATT initiative aligns with Stanbic Bank’s vision of driving inclusive growth, infrastructure development, and environmental sustainability.
GreenCo Power Services Limited Chief Executive Officer, Wezi Gondwe, said the collaboration marks an important step in advancing market-based renewable energy solutions in Zambia and the wider region. He emphasized GreenCo’s commitment to supporting innovative energy trading systems and facilitating private sector participation in clean energy development.
Representing the Minister of Energy, Director in the Ministry of Energy, Mr. Sivena Kambenja, welcomed the partnership, describing it as a timely intervention aligned with the government’s vision to expand access to clean, reliable, and affordable energy, while strengthening collaboration across the energy sector
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