January 13, 2026 — Leads & Copy — Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) has secured a 20-year Power Purchase Agreement (PPA) in Zambia for a 30-megawatt (MW) solar project, potentially generating US$60-90 million in gross revenues.
The agreement, backed by the Zambian government, establishes long-term royalty streams and marks the largest royalty-based infrastructure transaction in Stardust Solar’s history.
Through its Zambian subsidiary, Stardust Solar Zambia (SSZ), the Company has secured a 30MW PPA with Zesco Limited, a state-owned utility responsible for Zambia’s power transmission and distribution.
The contract allows Stardust Solar to sell solar-generated electricity to the Zambian government at US$0.07 per kilowatt-hour (kWh) for 20 years. The project anticipates generating US$60 million to US$90 million in gross revenues over the contract’s duration, based on current energy demands.
Under a loan and joint venture agreement dated January 12, 2026, Stardust Solar will fund project development, construction, and provide utility-scale engineering and technical oversight. In return, the Company will receive a 50% royalty on all energy revenues, after operating expenses, for the PPA’s remaining term following loan repayment.
The 30MW solar facility, comprising approximately 45,000 solar panels, is expected to begin commercial operation later this year upon completion of the first 2MW of solar, phase 1 of the build. The project site has 50 hectares of secured land, allowing for potential expansion.
Company leadership will visit Zambia in February to meet with government officials, utility stakeholders, and attend the project’s groundbreaking ceremony.
According to Mark Tadros, Chief Executive Officer of Stardust Solar Energy Inc., this agreement validates the company’s royalty-based growth strategy and establishes long-term, high-margin cash flows to support a global solar royalty platform.
Dr. Ochas Kashinge Pupwe, Principal of Stardust Solar Zambia and Megatricity Energy Limited, stated that the project reflects Zambia’s encouragement of long-term infrastructure investments and that utility-scale solar developments with stable PPAs are crucial for strengthening national energy security and economic growth.
Stardust Solar is building a diversified portfolio of royalty-based solar assets designed to deliver scalable growth, recurring cash flows, and long-term shareholder value.
Erica Bearss, MBA, DBA (c) | VP Corporate Communications
investors@stardustsolar.com
Source: Stardust Solar Energy Inc.
