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The Industrial Development Corporation (IDC) working with partners, plans to mobilize over US$ 1.5 billion for priority investments, create 40,000 jobs, and scale renewable energy projects including 1,000 mini-grids to benefit 1 million Zambians.
IDC Chief Executive Officer, Cornwell Muleya, said by leveraging blended finance, green bonds, and pension fund partnerships, IDC was shaping a strong pipeline of projects that would strengthen Zambia’s energy security while promoting regional power trade.
Muleya said this during a panel discussions at the Energy Forum for Africa (EFFA) 2025, held at Mulungushi International Conference Centre under the theme: “Investment Opportunities in the Energy Sector in Zambia and Africa.”
The topic of discussion was on Public-Private Partnerships and Transaction Advisory under the theme “How Collaborations between the Private Sector and the Public Sector Can Unlock Solutions.”
“With a portfolio spanning 12 key sectors, including energy, agriculture, mining, transport, and manufacturing, IDC continues to position itself as a reliable partner in advancing national development,” he outlined.
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Muleya spoke about the Industrial Development Corporation’s role as a state-owned investment company driving Zambia’s industrialization and economic diversification since 2014.
He assured of IDC’s commitment to catalyzing investment, promoting transparency, and advancing Zambia’s green transition through partnership models that balance public priorities with private sector efficiency.
“In the energy sector, IDC has been instrumental in pioneering renewable solutions,” Muleya stated.
He highlighted that through partnerships under the Scaling Solar initiative, IDC co-developed Zambia’s first two utility-scale solar plants totaling 88 MWp—Bangweulu Power (54 MWp) and Ngonye Power (34 MWp).
Mulyea stated that the projects not only delivered record-low tariffs but also proved the power of collaboration in unlocking sustainable energy infrastructure.
“Looking ahead, IDC’s 2024–2033 Transformational Strategic Plan aims to develop a 480 MW renewable energy pipeline with local and global partners,” he said.
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