Globeleq Acquires 51% Stake in Lunsemfwa Hydro Power Company in Zambia
Globeleq has completed the acquisition of a 51% equity stake in Lunsemfwa Hydro Power Company from Norfund, marking its entry into Zambia's energy market and the Southern African Power Pool (SAPP). The remaining 49% is owned by Wanda Gorge Investments. Lunsemfwa operates two hydropower plants with a total capacity of 56 MW and is developing a 27 MWp solar project. Globeleq plans to enhance its portfolio with additional solar and hydropower projects in Zambia.
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Globeleq has finalized the acquisition of a 51% equity stake in Lunsemfwa Hydro Power Company from Norfund, facilitating its entry into the Zambian energy sector and the Southern African Power Pool (SAPP). Wanda Gorge Investments retains the remaining 49% stake.
Lunsemfwa operates two hydro plants with a combined capacity of 56 MW and is constructing a 27 MWp solar project. The company's expansion includes a 200 MWp solar portfolio. Globeleq aims to strengthen its presence in Zambia, having opened a local office in Lusaka, and plans further developments including the Kafue Solar Project and Leopard's Hill Project.
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