Belgium’s ESM 1 secures deal with ZESCO for floating solar power plants in Zambia

A Belgium consortium, Energy Supply Management One Limited (ESM 1), has reportedly finalised negotiations with ZESCO Limited to invest in several floating solar power plants across Zambia.

ESM 1 is a joint-venture collaboration between ESM Belgium and Hydrosun Energies Limited, a Zambian consortium.

The consortium plans to invest up to 1 gigawatt of power generation capacity in Zambia, starting with a 200-megawatt floating solar project.

According to a statement released on Friday, this investment, along with other green energy initiatives and contributions from Independent Power Producers (IPPs), aimed to increase Zambia’s total power generation capacity to over 3,500 megawatts, positioning the country to become energy self-reliant and potentially a net exporter of electricity.

ESM 1 Chairman, Mukela Muyunda, praised all stakeholders involved in the negotiations.

“The successful conclusion of these negotiations reinforces the positive environment for investment in Zambia. We appreciate the support and engagement from various stakeholders throughout this process,” Muyunda said.

He added that as Zambia seeks to achieve significant economic growth, the demand for energy will continue to rise.

Kris De Pooter, Managing Director of ESM Belgium, also welcomed the development, noting that ESM Belgium and its technology partner, Connectum BV, were eager to introduce ultra-modern green energy solutions to Zambia.

“This investment by ESM 1 would provide significant benefits to the people of Zambia,” he said, emphasizing the potential for a more stable and prosperous energy future.

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