Stardust Solar Energy Obtains Final Zambia Ministry Approval for 30 MW Solar PV Project – Kalkine Media

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Stardust Solar Energy Inc. (TSXV:SUN) SUN (TSXV:SUN) (OTCQB: SUNXF) (FSE: 6330) has secured final approval from Zambia’s Ministry of Energy through a fully executed Implementation Agreement for its flagship 30 MW utility-scale solar photovoltaic project located in the Kalulushi District of Copperbelt Province. This approval marks one of the last government milestones required before construction can begin, establishing a binding legal framework among the Government of Zambia, local partner Megatricity Energy Limited, and Stardust. Investors are expected to closely monitor the company as it advances toward finalizing project financing and initiating construction mobilization.
The fully executed Implementation Agreement defines the legal framework for the development, construction, commissioning, and long-term operation of the 30 MW solar project. The Ministry of Energy confirmed approval from the Attorney General, with signatures from the Ministry, Stardust, and local franchisee Megatricity Energy Limited. This agreement represents one of the final governmental approvals necessary before construction can commence. The announcement highlights that project preparations and construction planning are complete, enabling the project to proceed directly to execution after financial close.
In recent months, Stardust and Megatricity Energy Limited have advanced the project through engineering design, environmental assessments, permitting, government approvals, land planning, procurement readiness, and detailed Engineering, Procurement, and Construction (EPC) design. CEO Mark Tadros emphasized that extensive engineering, planning, and collaboration have positioned the project for execution, with the company now focusing on securing project financing and mobilizing construction. The Zambia solar project is identified as the cornerstone asset in Stardust’s long-term renewable infrastructure portfolio.
Stardust disclosed it is in advanced discussions with multiple strategic and institutional investors, targeting a combined debt-equity financing structure via a Special Purpose Vehicle. The announcement notes that rising global demand for renewable infrastructure, artificial intelligence, electrification, and long-duration energy assets is driving increased investor interest in utility-scale projects. The company’s immediate priority is selecting the optimal financing partner and completing the capital structure to initiate construction. Specific financing amounts and timelines have not been disclosed.
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