Chinese Investors Eye Zambia Renewable Energy Sector

Chinese investors have expressed interest in investing in Zambia’s renewable energy sector as the country works to increase electricity generation capacity to 10,000 megawatts by 2031 under the Grow Zambia Agenda.

A delegation comprising Yang Dezhu of Fengbo Measurements Group and Volcano Zou of Volcano Energy Partners met Energy Permanent Secretary Professor Ephraim Munshifwa at the Ministry of Energy.

The delegation was led by former Kaumbwe Constituency Member of Parliament Dr Aaron Mwanza.

The investors said they are interested in contributing to Zambia’s energy expansion ambitions through renewable energy investments.

Professor Munshifwa assured the delegation that Government supports viable investments in the energy sector.

He said the 10,000-megawatt target is a key priority for the Ministry and is critical to supporting growth in sectors such as mining, agriculture and tourism.

Professor Munshifwa said Zambia’s electricity demand currently stands at about 2,450 megawatts, while the country continues to diversify its energy mix.

He said the country’s reliance on hydropower has declined from about 85 percent to 68 percent due to increased investment in solar energy.

Professor Munshifwa said Zambia needs more investment in electricity generation to meet growing demand and ultimately position itself as a regional energy exporter.