Stardust Solar Zambia Secures 20-Year Power Purchase Agreement for 30MW Utility-Scale Project

Executive Summary

• Stardust Solar Energy Inc. secured a 20‑year, utility‑scale Power Purchase Agreement in Zambia for a 30 MW solar project, generating an estimated US$60–90 million in gross revenues over the contract term.
• The agreement provides a 50% royalty on all energy revenues after loan repayment, creating a high‑margin, multi‑decade recurring cash‑flow stream – the largest royalty‑based infrastructure transaction in the company’s history.
• Construction is slated to begin with Phase 1 (2 MW) this year, with commercial operation expected later in 2026; senior leadership will travel to Zambia for groundbreaking and stakeholder meetings in February.

Key Details

• PPA Terms: Fixed price of US$0.07 per kWh for 20 years with Zesco Limited, Zambia’s state‑owned utility.
• Project Size: 30 MW capacity, ~45,000 high‑efficiency solar panels on 50 ha of secured land (allows future expansion).
• Revenue Outlook: Projected gross revenues of US$60–90 million over the life of the PPA based on current assumptions and national demand.
• Royalty Structure: Stardust Solar will earn a 50% royalty on all energy revenues after deduction of approved operating expenses, once the project loan and interest are repaid.
• Financing: Fully executed loan and joint‑venture agreement dated Jan 12 2026 to fund development, construction, and engineering oversight.
• Timeline: Phase 1 (first 2 MW) to be completed this year; full commercial operation anticipated later in 2026.
• Strategic Impact: Represents the largest royalty‑based infrastructure deal for Stardust Solar, materially advancing its global solar royalty platform and long‑duration cash‑flow strategy.

Notable Quotes

“This agreement represents a defining milestone for Stardust Solar and the strongest validation to date of our royalty‑based growth strategy,” – Mark Tadros, CEO, Stardust Solar Energy Inc.

“Utility‑scale solar developments supported by stable power purchase agreements play a critical role in strengthening national energy security… we welcome Stardust Solar’s commitment…” – Dr. Ochas Kashinge Pupwe, Principal, Stardust Solar Zambia & Megatricity Energy Limited.