Globeleq Launches $315M Leopards Hill Solar + BESS project in Zambia

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Globeleq has launched construction of the Leopards Hill Solar and Battery Storage Project in Chongwe District, Lusaka Province. The project combines a 250 MWp solar PV plant with a 150 MW/600 MWh battery energy storage system (BESS).

President Hakainde Hichilema officiated the launch at the project site off Leopards Hill Road. The ceremony was attended by British High Commissioner Rebecca Terzeon, acting Minister of Energy Rodney Sikumba, and Lusaka Province Minister Sheal Mulyata. The total investment is US$315 million with financial close is targeted for end of 2026.

The Project and Partners

Globeleq, owned by British International Investment and Norfund, is developing the project in partnership with Leopard Investment Company, a Zambian agricultural firm with a long history of hosting energy infrastructure, including the Leopards Hill Substation. Globeleq opened its Lusaka office in 2025.

The company’s existing Zambian portfolio includes a 51% stake in Lunsemfwa Hydro Power Company and the 56 MW Kafue Solar project. Leopards Hill adds solar and storage to that base and strengthens Globeleq’s ability to offer tailored power solutions to major customers in Zambia, particularly in mining, and expands opportunities for private sector offtake in a growing market.

From Dormant to Bankable

The project had remained dormant for nearly a decade. It became viable after a series of policy and legislative reforms under the Hichilema administration. The Electricity Act of 2019 ended ZESCO’s monopoly over generation, transmission, and distribution, opening the sector to independent power producers. The Energy Regulation Act of 2019 established the regulatory framework for licensing and oversight of private energy enterprises. In 2024, the government introduced Open Access Regulations allowing IPPs and large consumers to trade electricity using ZESCO’s transmission and distribution network. And earlier this year, the Carbon Feed-in Premium programme launched to unlock up to 300 MW of private renewable energy investment.

The Government has reaffirmed its commitment to continuing these reforms, with a push for a diversified energy mix and resource-sharing across the sector. The stated ambition is to reach 10 GW of installed generation capacity by 2030, supporting a target of 3 million tonnes of copper production per year.

The energy sector reforms are already producing results beyond Leopards Hill. ZESCO is working to strengthen its transmission network to meet growing demand, and Independent Power Producers have played a visible role in supporting the country during periods of load shedding.

Building Ahead of Capital

Construction is launching ahead of financial close, a sequence that reflects the developer’s confidence in the reformed regulatory environment. On the sidelines of the launch, Globeleq and ZESCO signed the Grid Connection Agreement, securing export capacity and formalizing the relationship with the national grid operator.

The UK is contributing £1.2 million to Zambia’s energy compact and supporting the Zambia-Tanzania interconnector, a signal of the shift from aid to investment in Zambia’s energy sector.

The Takeaway

A project shelved for nearly a decade is now in active construction, backed by a signed grid connection agreement and a presidential launch. Financial close is still ahead, but the groundbreaking signals that Zambia’s policy reforms are converting the stalled pipeline into bankable infrastructure. Zambia’s grid has long depended on hydropower, and recent droughts exposed that vulnerability. Leopards Hill is part of a deliberate push to diversify the energy mix with solar and storage across the Southern African market. The question is no longer whether the regulatory framework works on paper. Leopards Hill is the proof point.

Deals and Investments

Nigeria attracted $425 million in investment in 2025 across eight solar manufacturing plants, capacity hits 300 MW, panels now exported to Ghana. Punch

Mulilo closes financing on 380 MW Beaufort West Solar PV in Western Cape, fourth financial close in 2026, portfolio crosses 2 GW. Mulilo

African Development Bank Group (AfDB) and ILX Management complete first joint deal, $40 million Dutch pension capital into 1.1 GW Egypt wind project. AfDB

Inspired Evolution commits $40 million to CrossBoundary Energy via Evolution III fund to scale Commercial and Industrial (C&I) solar, BESS, and hybrid projects across Sub-Saharan Africa. CrossBoundary Energy

Lagos State signs PPAs and concession arrangements with three independent power producers to expand generation capacity to between 200 MW and 400 MW. Nairametrics

Daystar Power signs contract with Olam Agri Ghana for 1.9 MWp rooftop solar at Kpong agro-industrial facility. Daystar Power

Transgrid Enerco and Decentralised Energy Limited sign strategic collaboration to deploy embedded generation across Lagos. Transgrid Enerco

Regulatory Updates

Senegal and Sierra Leone sign bilateral mining and energy cooperation treaty in Dakar. Government of Sierra Leone

Delta State Governor meets Power Acumen Consulting, Detail Solicitors, and Nigeria Infrastructure Bank for 24-hour power partnerships. Delta State Government

Southern African Power Pool (SAPP) issues tender for battery energy storage strategy consultant; grid modernisation accelerates across Southern Africa. SAPP

AfDB concludes 10th Africa Energy Market Place in Gabon, Gabon becomes 25th country under Mission 300 compact framework. AfDB

On the radar

24 April | Transcorp Power posted ₦94.59bn revenue, ₦39.59bn PBT. Gas supply constraints and transmission vandalism limited dispatch to 454 MW against 973 MW available. Transcorp Power

29–30 April | African Energy / AIX Nairobi. Power sector intelligence briefings on African power markets, off-grid, transmission, and regulatory reform. African Energy

30 April | Copperbelt Energy Corporation commissions 136 MW Itimpi II Power Plant in Zambia. CEC

7 May | Lagos State Electricity Regulatory Commission (LASERC) holds maiden Stakeholders Forum, “Advancing the Lagos Electricity Market Through Smart Regulation.” LASERC