Article

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.