African independent power producer Globeleq has signed a share purchase agreement with Norfund, the Norwegian development finance institution, to acquire a 51% stake in Lunsemfwa Hydro Power Company (LHPC) in Zambia.
LHPC operates two hydroelectric plants totalling 56 MW and is building a 20 MW solar PV project. The remaining 49% of LHPC will remain with Wanda Gorge Investments, a Zambian infrastructure investment firm.
Based in Kabwe, LHPC supplies electricity to Zambia Electricity Supply Corporation under a power purchase agreement as well as private customers including Copperbelt Energy Corporation and Jubilee Metals. The company also holds a Southern African Power Pool trading licence.
The transaction is expected to close in the second half of 2025. Globeleq, which operates solar, wind, battery, hybrid and geothermal assets across Africa, is expanding its Zambian portfolio with over 400 MW of additional greenfield projects, including its 54 MWp Kafue solar plant awarded under the GET FiT Zambia programme, the producer says.
