Zambia: AfDB Commits $8M to 32 MWp Ilute Solar Project

Pan-African finance institution the African Development Bank (AfDB) has announced $8 million in financing to support the development of the 32 MWp Ilute Solar Project in Western Zambia.

The $26.5 million project will ensure regional energy security and affordability via an agreement signed with energy trader GreenCo Power to supply electricity via the Southern African Power Pool.

The AfDB’s contribution will be channeled through the Sustainable Energy Fund for Africa (SEFA), a multi-donor fund designed to catalyze private sector investment in clean energy across the continent.

According to the AfDB, the financing structure enables Zambia to develop the project without burdening its national balance sheet or requiring sovereign guarantees.