en.Wedoany.com Reported - Lunzua Power Company Limited, an independent power producer in Zambia, has announced the acquisition of a 27% equity stake in Western Power Company Limited to advance the development of the 180-megawatt Ngonye Hydroelectric Power Falls project in the country's Western Province.

The agreement was signed during the Africa Energy Forum held in Cape Town. Lunzua stated that this investment will directly inject capital into the project, aligning with the company's strategic direction to develop and operate clean power generation assets, support Zambia's efforts to enhance its power generation capacity, and improve electricity supply.

At the signing ceremony, Lunzua Chief Executive Officer Martin Kasemuka said the investment reflects the company's confidence in the role of hydropower in Zambia's energy mix. With the addition of 180 megawatts of clean, locally generated electricity, Kasemuka believes this move will help strengthen Zambia's power generation capacity and, as broader investments in the sector advance, contribute to a more secure and resilient national power supply. Furthermore, capacity of this scale can help Zambia transition to a power surplus state, creating conditions for it to become a reliable regional electricity supplier.

The company stated that this acquisition supports several strategic priorities, including developing clean generation capacity that can complement baseload power, securing long-term contract revenue, expanding market access and project pipeline opportunities, while contributing to Zambia's energy security and development goals.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com