Strategic Initiative Summary
Nava Limited announced the commissioning of a 100 MW solar power plant in Zambia through its step-down subsidiary, Maamba Solar Energy Limited (MSEL). Power evacuation from the plant to the Zambian grid has commenced.
Project Details
- Capacity: 100 MW solar power plant
- Location: Zambia
- Subsidiary: Maamba Solar Energy Limited (MSEL), a step-down subsidiary
- Ownership Structure: 65% held by Nava Global (Nava Limited's international arm) and 35% by ZCCM Investments Holdings PLC
- Current Status: Commissioning completed and power evacuation to grid has begun
Commercial Arrangements
- Power Purchase Agreement: 20-year PPA with ZESCO Limited, Zambia's national power utility
- Offtake Arrangement: Entire power generated by the 100 MW plant is covered under the PPA
Strategic Significance
- Represents Nava Limited's formal entry into utility-scale renewable energy
- Marks diversification beyond traditional core sectors (power generation, mining, ferro alloys)
- Positions the company to participate in global shift toward clean energy
- Builds scalable platform for future renewable ventures across geographies
- Part of the group's international expansion through Nava Global in Africa
Management Commentary
Mr. Ashwin Devineni, MD&CEO of Nava Limited, stated: "The commissioning of our 100MW solar project in Zambia marks a defining step in Nava's journey into renewable energy. This milestone reflects our commitment to sustainable growth and reinforces our vision of building a diversified, future-ready energy portfolio across geographies."
Corporate Structure
- MSEL is a Zambia-based renewable energy company
- Step-down subsidiary of Nava Limited
- Held through Nava Global, the Company's international arm
- Shareholding: 65% Nava Global, 35% ZCCM Investments Holdings PLC (Zambian investment holding company)