en.Wedoany.com Reported - South Korean developer KS Eco Solutions Holding Limited plans to build a 500 MW solar project in Zambia, to be developed in ten phases, each comprising a 50 MW generation unit. Zambia's Ministry of Information and Media stated that a South Korean delegation has discussed this strategic partnership with the Zambian government and local stakeholders.
The project will be jointly installed by South Korean and Zambian technical teams, with the Zambian government providing the required land. Once completed, the power station will sign a long-term power purchase agreement with Zambia's national power company, ZESCO. The ministry stated that once operational, the 500 MW plant is expected to fill one-third of Zambia's current energy gap.
The ministry has listed the Export-Import Bank of Korea and the Korea Development Bank as potential financing partners. Zambia's Ministry of Information and Media stated that due to factors such as a stable and strengthening currency and restored credit ratings, investor confidence in Zambia is growing, which underpins a structured proposal worth between $700 million and $900 million submitted by South Korean investors. The ministry noted that while the proposal is still in its early stages, the fact that it exists, is structured, and has been submitted to the government is significant in itself.
Zambia's solar market is accelerating its expansion. The country's first 100 MW project was completed in May 2025, and another 100 MW plant began construction three months later, both part of the government's plan to deploy 1 GW of utility-scale solar. Currently, Zambia's largest operational solar asset is the 136 MW Itimpi II solar plant, which was commissioned in May. Earlier this year, the Zambian government also launched a new financing mechanism to procure 300 MW of solar projects paired with battery energy storage systems. A 250 MW solar plant with 150 MW/600 MWh of storage began construction in April.
According to project database tracking data from the Africa Solar Industry Association (AFSIA), the organization has recorded 1.15 GW of operational solar projects in Zambia, with another 1.64 GW under construction.
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