Renewable Energy in Zambia

Executive Summary

Geothermal, solar, and wind projects are attracting major international investment. In Zambia, this plays out against a market of 21.9M people, a GDP of $29.4B, and a GDP per capita of $1,340. The country's main export base includes N/A, which shapes both demand and financing conditions for renewable energy ventures.

Zambia is growing rapidly, but elevated inflation requires careful currency and cost management for renewable energy investors.

Key Opportunities in Zambia

• Utility-scale solar and wind projects in Zambia.
• Green hydrogen and clean fuel exports in Zambia.
• Grid infrastructure and energy storage in Zambia.
• Rural electrification and off-grid solutions in Zambia.

What Investors Should Watch

• Macro trajectory: GDP growth of 5.8% and inflation of 11% set the baseline for returns.
• Market size: 21.9M people create addressable demand, while GDP per capita of $1,340 indicates purchasing power.
• Policy and regulation: monitor sector-specific licensing, foreign-ownership rules, and tax incentives.
• Local partnerships: strong operators, distributors, or joint-venture partners often determine success in Zambia.