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Zambia has reportedly secured a landmark US$1.5 billion investment in the energy sector following successful engagements by the Zambia Development Agency (ZDA) and the Zambian Embassy in Beijing.
The investment, committed by China Machinery Engineering Corporation (CMEC Group), will see the development of a diversified 900-megawatt power portfolio in Zambia.
According to a statement issued on Wednesday, the project would comprise a 300-megawatt coal-fired thermal power plant, a 300-megawatt solar power facility, and a 300-megawatt wind power plant, aimed at strengthening Zambia’s electricity generation capacity and improving energy security.
ZDA Director-General, Albert Halwampa, said the investment aligned with Zambia’s ambitious plan to increase electricity generation to 10,000 megawatts by 2031.
“This investment is a major step towards achieving Zambia’s target of 10,000 megawatts of installed power capacity by 2031. It reflects growing investor confidence in our energy sector and our broader economic reforms. Importantly, the demand for electricity in the region remains very high, presenting Zambia with a strategic opportunity to position itself as a net exporter of power while supporting domestic industrialisation,” Halwampa said.
Meanwhile, Ivan Zyuulu, Zambia’s Ambassador to China, welcomed the development and emphasised the importance of strengthening economic cooperation between Zambia and China.
Zyuulu said the investment demonstrated growing bilateral relations between the two countries and confidence by Chinese investors in Zambia’s economic environment.
“It is a clear demonstration of the confidence that Chinese enterprises have in Zambia’s investment climate. The Embassy will continue to facilitate strategic partnerships that translate into tangible development outcomes for our country,” Ambassador Zyuulu said.
CMEC Group has indicated that it will visit Zambia in June 2026 to commence feasibility studies, adding that the company had the financial and technical capacity to begin construction of all three power plants simultaneously.
The development comes as ZDA and the Zambian Embassy in Beijing undertake a joint investment promotion roadshow in China aimed at positioning Zambia as a prime investment destination.
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