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Zambia is seeking US$11.6 billion in investments by 2030 to expand electricity generation and meet the country’s growing energy demand, authorities have revealed.
Of this amount, US$9.5 billion is expected to be mobilised from private sector sources under the Mission 300 initiative.
Energy Minister, Makozo Chikote, made the announcement during the opening of the Commercial and Industrial (C&I) Energy + Storage Summit Zambia 2025 in Lusaka, in a speech read on his behalf by Ministry Director of Energy, Mafayo Ziba.
The summit brings together policymakers, financiers, and industry leaders to discuss strategies and solutions for strengthening Zambia’s energy sector.
Chikote noted that electricity demand was projected to rise by 121 percent by 2030, requiring generation capacity to increase from 3.7 gigawatts in 2023 to 10 gigawatts.
He added that renewable energy sources, including solar and wind, were expected to expand from 3 percent to 33 percent of the energy mix during the same period.
“Meeting this growing demand will require transformative investments in Zambia’s power sector. The time to invest in Zambia’s energy future is now,” he emphasised.
The minister stated that government had introduced reforms to attract private sector participation, including the Open Access Framework, Multi-Year Tariff Framework, Net Metering, and a Single Licensing System.
Chikote reaffirmed the Ministry’s commitment to working with the private sector, financiers, and technology partners to unlock Zambia’s energy potential.
“Together, we can drive industrialisation, support economic growth, and deliver a sustainable energy future for all,” he said.
Speaking at the same summit, Senior Energy Officer Palanga Ngoma said the interventions were already yielding results.
“The establishment of the Energy Company and the implementation of the Open Access Framework are gradually reshaping the country’s energy sector,” he said.
The summit emphasised the strategic role of the C&I sector in Zambia’s energy future, focusing on grid modernisation with storage and hybrid systems, private-led generation, and regional power trading.
It also highlighted opportunities in renewables, embedded storage, energy efficiency, and clean industrial processes.
The two-day summit, organised by the Vuka Group and partners, aims to foster actionable solutions and meaningful partnerships to strengthen Zambia’s energy security.
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