Zesco

Name

Zesco

Legal name

ZESCO Limited

Website

https://zesco.co.zm

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ZESCO Limited is Zambia's wholly state-owned national electricity utility, generating, transmitting, and distributing power to residential, commercial, industrial, and mining customers across Zambia from a current installed capacity of 3,500–3,900 MW, targeting 10,000 MW by 2030.

Ownership category

akta.pro rank

Product category

Electricity Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Hydroelectric Power Generation (221111)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Interconnection Hardware & Substation Integration (Transformers, Switchgear, Breakers, Metering) (EUAMAIAK)

akta.pro secondary industries

Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Grid-Scale Power Conversion & Interconnection (PCS, Grid-Tie Inverters, Converter Stations) (IMAGAAAI), Transmission Interconnection & Line Works (Gen-Tie Lines, Overhead/Underground Lines) (EUAMAFAF), SCADA/DMS/OMS Integration, Upgrades & Managed Services (EUAEANAE), Energy Management Systems & Plant Controllers (PPC, AGC Participation, Curtailment Control) (EUAMAIAI)

Keywords

• Electricity generation services
• Power transmission distribution
• National grid utility
• Renewable energy integration
• Mining power supply

Headquarters

HQ city

Lusaka

HQ country

Zambia

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Electricity Supply and Transmission: ZESCO operates as Zambia's national power utility, generating revenue through electricity generation, transmission, and distribution services. The utility supplies power to households, businesses, and the mining sector under power purchase agreements with independent power producers.

Distribution channels1 record

Core offering

ZESCO generates, transmits, distributes, and supplies electricity throughout Zambia as the country's national power utility. It serves households, commercial and industrial businesses, and the mining sector through the national grid, and integrates electricity from independent power producers under power purchase agreements as part of Zambia's energy diversification strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Generation, Transmission, and Distribution
• ZamWatt Clean Electricity Supply Initiative
• Grid Connection Services for Independent Power Producers

Quantifiable outcome

• Supports Zambia's target of increasing annual copper production to 3 million tonnes through reliable power supply
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• KS Eco Solutions HoldingscoreStrategic or Co-development Partner · 22 June 2026ZESCO and South Korea's KS Eco Solutions Holdings signed a purchase agreement for a 500-megawatt solar plant combined with a 500MWh battery energy storage system. The project supports Zambia's goal to expand power generation capacity to 10,000 MW by 2030 and addresses significant power deficit.
• China Machinery CompanyminorImplementation/ SI/ Consulting Partner · 18 May 2026China Machinery Company developed the 50-MW Mansa Solar Plant in Luapula Province, completed in 10 months from February to December 2025. The US$48 million facility is the first major power generation investment in the region in over six decades.
• GreenCo Power Services LimitedcoreStrategic or Co-development Partner · 16 May 2026GreenCo manages operational responsibilities including scheduling, metering, and financial settlement for the ZamWatt initiative, supplying solar, wind, and hydropower projects with battery storage to commercial and industrial customers.
• SunShare EnergycoreStrategic or Co-development Partner · 8 May 2026The Zambian government and SunShare Energy signed a US$246 million agreement to expand the Nambala Solar PV plant by 200 MW, increasing total capacity to 250 MW. ZESCO governs the expansion through a Power Purchase Agreement.
• GlobeleqcoreStrategic or Co-development Partner · 21 April 2026Globeleq launched the Leopards Hill hybrid renewable energy project combining 250 MWp solar PV with 150 MW/600 MWh battery storage. ZESCO signed a Grid Connection Agreement with Globeleq for export capacity and national grid integration.
• First Quantum MineralscoreChannel Partner/ Reseller/ Distributor · 13 April 2026First Quantum Minerals receives clean energy from a 100 MW solar photovoltaic project in Chisamba. GreenCo Power Services purchases electricity and supplies it to First Quantum Minerals, freeing up grid capacity for households and small businesses.
• DZGM Energy ResourcesminorStrategic or Co-development Partner · 30 March 2026DZGM Energy Resources signed a Power Purchase Agreement with ZESCO to develop a 100 MW hybrid wind and solar project in Zambia, scheduled for implementation within six months as part of Zambia's energy diversification strategy.
• Bajel Projects LimitedminorImplementation/ SI/ Consulting Partner · 22 April 2025Bajel Projects Limited completed and commissioned a 132kV Single Circuit Transmission Line Project for ZESCO in Lusaka, involving three transmission lines totaling 13.5 km to enhance grid reliability and reduce transmission losses.
• Stardust Solar Energy Inc.coreStrategic or Co-development Partner · 13 January 2025Stardust Solar secured a 20-year government-backed power purchase agreement with ZESCO for a 30MW utility-scale solar project. The deal has a fixed tariff of US$0.07 per kWh and is expected to generate US$60-90 million in gross revenues over the contract term.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mainstream Energy Solutions / Power Holding Company of Nigeria successor entities: Operator of large hydropower (Kainji, Jebba, Shiroro) and a major offtake counterparty in Nigeria — analogous to ZESCO as a state-anchored IPP-integrating utility on the African grid.
• Eskom Holdings SOC Ltd: South Africa's state-owned vertically integrated power utility, the closest direct peer to ZESCO — generation, transmission, and distribution monopoly serving a Southern African economy with dominant coal baseload and a comparable Industrial/mining-driven load profile.
• Société Nationale d'Électricité (SNEL): DR Congo's national state-owned utility, a direct peer for vertically integrated generation, transmission, and distribution monopoly, hydropower exposure (Inga), and mining-sector load profile (copper, cobalt) closely analogous to ZESCO's serving Zambian copper mines.
• NamPower: Namibia's state-owned vertically integrated power utility, a regional peer operating under similar SAPP market structures with hydropower imports and IPP-driven renewable diversification.
• Tanzania Electric Supply Company Limited (TANESCO): Tanzania's state-owned vertically integrated power utility, structurally identical to ZESCO in generation, transmission, distribution, hydropower exposure, and IPP-driven renewable expansion strategy.
• Kenya Power and Lighting Company (KPLC): Kenya's state-owned national electricity distribution utility and dominant offtaker for IPPs — a direct comparator in business model (state offtaker + IPP integrator), regulatory monopoly, and renewable diversification efforts.
• Zimbabwe Electricity Supply Authority (ZESA / ZETDC): Zimbabwe's national state-owned utility with generation, transmission, and distribution monopoly — directly comparable as a Southern African hydropower-anchored utility facing capacity deficits and IPP integration challenges.

Emerging players

• Scatec ASA: Norwegian renewable IPP with a growing Sub-Saharan Africa utility-scale solar and battery storage pipeline — comparable to ZESCO's IPP counterparties and to the broader African utility-of-the-future model that ZESCO is positioning itself alongside.
• Globeleq: UK-based pan-African independent power producer actively building generation capacity that ZESCO offtakes under PPAs and grid connection agreements (e.g., Leopards Hill 250 MWp, Lunsemfwa 56 MW). Comparable as a renewable IPP directly transacting with ZESCO, and a peer for understanding offtake economics.

Broad incumbents

• Enel Green Power / Enel Africa: Global incumbent utility/Renewables developer with active Sub-Saharan generation interests. Relevant as a broad incumbent benchmark for utility-scale renewable integration on African grids where state utilities like ZESCO are the offtakers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ZescoL

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zesco