British-based energy company Globeleq is set to acquire a majority stake in one of Zambia’s main hydropower companies, in a strategic move aimed at expanding its renewable energy footprint across Southern Africa.
The planned acquisition, which is pending regulatory approval, will see Globeleq take control of a key hydropower operator responsible for supplying a significant portion of Zambia’s electricity. The company currently manages hydroelectric plants along the Kafue River and contributes to national grid stability.
Globeleq officials say the investment will include modernisation of aging infrastructure, capacity upgrades, and enhanced maintenance systems. The company also plans to implement staff training programmes and digital monitoring tools to boost operational efficiency.
“We are committed to long-term investment in Africa’s clean energy future,” said Globeleq CEO Mike Scholey. “This acquisition allows us to support Zambia’s energy goals, improve reliability, and contribute to economic development.”
Zambian government officials have welcomed the move, calling it a vote of confidence in the country’s power sector and a key step toward attracting sustainable foreign investment. The Ministry of Energy noted that the deal aligns with national objectives to strengthen public-private partnerships and increase renewable energy output.
The acquisition is expected to unlock additional financing for future projects and help Zambia meet growing domestic demand while positioning the country to export surplus electricity to neighbours in the Southern African Power Pool.
Energy analysts say the deal could significantly reduce load-shedding if properly implemented, though they stress the importance of transparency and community engagement throughout the transition.
Once completed, the acquisition will make Globeleq a major player in Zambia’s renewable energy space and further solidify the country’s role as a regional hub for green power.
