Globeleq Acquires Zambia Hydro Stake

Key Figures & Findings: Globeleq, a UK-headquartered independent power producer owned by British International Investment and Norfund, has agreed to acquire a 51% stake in Zambia’s Lunsemfwa Hydro Power Company (LHPC). The deal hands Globeleq immediate control of two run-of-river hydropower plants totaling 56 MW and a late-stage 20 MW solar PV project near Kabwe, which marks Globeleq’s official entry into the Zambian energy market and its first-ever hydropower investment across Africa. The remaining 49% of LHPC will remain with Wanda Gorge Investments, a Zambian infrastructure investor, ensuring domestic participation in the asset’s expansion.

Future Implications: If completed by H2 2025, the acquisition could enable Globeleq to accelerate its 400+ MW greenfield pipeline in Zambia and integrate LHPC’s output into the Southern African Power Pool by 2026. This would support Zambia’s goal of diversified generation and enhance regional power trading.

Source: PR Newswire