Kafue Solar reaches financial close on US$52m from BII and FMO

Kafue Solar reaches financial close on US$52m from BII and FMO

Globeleq’s two 20MW AC plants near Kafue are the first project under Zambia’s GET FiT programme to reach financial close. Clifford Chance advised the lenders.

October 17, 2026

British International Investment (BII) and FMO have provided US$52m to finance the Kafue Solar Project in Zambia, developed by Globeleq Kafue Solar Limited. Clifford Chance advised the lenders.

The project

Kafue Solar comprises two 20MW AC solar PV plants, about 56MWp combined, near Kafue in Lusaka Province. Once operating, it is expected to supply clean power to about 38,000 households. Clifford Chance says it is the first project under Zambia’s Global Energy Transfer Feed-in Tariff (GET FiT) programme, led by the Ministry of Energy with Germany’s KfW, to reach financial close. The firm announced the deal on 7 October 2026.

The lawyers

Clifford Chance’s team was led from Paris by partner Delphine Siino Courtin, with counsel Thomas Chneiweiss and associates on project development and financing. London partner Edward Bretherton and senior associate Jonathan Forrest advised on construction. Counsel to Globeleq was not named in the announcement.

Why it matters

GET FiT was designed to give small and mid-sized independent power projects a standard route to bankability. A first financial close turns a programme into a precedent: lenders, sponsors and counsel on the next GET FiT project will start from these documents.

Photo: Partonez / Wikimedia Commons, CC BY-SA 4.0 (illustrative).

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