Located near Kafue Town in Lusaka Province, the project will supply electricity to ZESCO under a 25-year power purchase agreement. FMO and British International Investment (BII) have committed a total of US$52.1 million in long-term project financing. The GET FiT Zambia Programme is led by Zambia’s Ministry of Energy in collaboration with the German Development Bank (KfW) to encourage private investment in renewable energy.

The project will expand Zambia’s solar generation capacity and help diversify its electricity supply, supporting the country’s energy needs and economic development. Once operational, it is expected to generate enough clean electricity to supply 38,000 households. It is also expected to create around 200 jobs for Zambians at the height of construction, with long-term employment opportunities during operations.

Partner Simon Ratledge commented: “We are pleased to have supported Globeleq in bringing the Kafue Solar Project to financial close. This is an important milestone for Zambia’s renewable energy sector and demonstrates the role of private investment and development finance in delivering new generation capacity.”

The Asafo & Co. team was led by partner Simon Ratledge, supported by associates Anna Lavigne and Sanna Driouach. This transaction reflects the firm’s commitment to advancing sustainable development across Africa. It also highlights our specialized banking, finance and energy expertise, particularly in high-impact, market-shaping transactions.