Globeleq acquires 51% stake in Lunsemfwa Hydro Power Company

Globeleq has announced its acquisition of a 51% stake in Lunsemfwa Hydro Power Company (LHPC) from Norfund. This strategic transaction marks Globeleq's inaugural hydropower investment in Africa, significantly expanding its renewable energy portfolio within Zambia. For Norfund, a Norwegian investment fund focused on developing countries, this divestment aligns with its strategy of investing in and realizing value from renewable energy assets in emerging markets. While the deal value remains undisclosed, its importance is underscored by Globeleq's strategic diversification into the hydro sector, complementing its existing renewable energy assets in Zambia. The acquisition highlights the continued investor interest in Zambia's renewable energy potential, particularly in hydropower, which is a critical component of the nation's energy infrastructure. The involvement of Globeleq, a prominent independent power producer, and Norfund, a development finance institution, emphasizes the strategic nature of this asset within the broader African infrastructure landscape.