Vancouver, British Columbia--(Newsfile Corp. - August 25, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust" or the "Company"), a North American renewable energy company focused on distributed energy, commercial solar, utility-scale development, and long-term renewable energy asset ownership, today announced that it has received final approval from the Ministry of Energy of the Government Republic of Zambia with the fully executed Implementation Agreement (IA) for its flagship 30 MW utility-scale solar photovoltaic project located in the Kalulushi District, Copperbelt Province.
The approval represents one of the final government milestones before construction can commence and marks another significant step in Stardust's strategy to develop, finance, own, and operate long-term renewable energy infrastructure assets that generate recurring revenues and sustainable shareholder value. The Ministry of Energy has confirmed Attorney General approval and the Implementation Agreement has been fully executed by the Ministry, Stardust, and the local Franchisee Megatricity Energy Limited. The Implementation Agreement establishes the legal framework between the Government of Zambia, Megatricity Energy Limited, and Stardust for the development, construction, commissioning, and long-term operation of the project.
Project Snapshot
| Project | 30 MW Utility-Scale Solar PV |
| Location | Kalulushi District, Copperbelt Province, Zambia |
| Status | Final Government Approval Received |
| Next Milestone | Strategic Project Financing & Construction |
| Preferred Structure | Combined Debt-Equity via SPV Structure |
| Strategic Objective | Long-Term Renewable Infrastructure Ownership |
Over the past several months, Stardust and its local partner, Megatricity Energy Limited, have advanced the project through engineering, environmental studies, permitting, government approvals, land planning, procurement preparation, and detailed Engineering, Procurement and Construction (EPC) design. With the Implementation Agreement executed, project preparations complete, and construction planning finalized, the project is positioned to move directly into execution following financial close.
Mark Tadros, CEO of Stardust, commented: "Receiving final government approval to execute the Implementation Agreement marks the successful completion of one of the project's most significant regulatory milestones. Months of engineering, planning, and collaboration have positioned the project for execution. Our focus is now on completing project financing, mobilizing construction, and advancing what we expect will become the first cornerstone asset in Stardust's long-term renewable infrastructure portfolio."
The Company is currently engaged in advanced discussions with multiple highly qualified strategic and institutional investors, with additional investor interest continuing to build. Growing global demand for renewable infrastructure, artificial intelligence, electrification, and long-duration energy assets continues to increase investor interest in utility-scale projects capable of generating predictable, long-term cash flows.
Eamonn McHugh, COO of Stardust, added: "This milestone reflects the tremendous work completed by our teams and partners across engineering, government, utility coordination, and project development. The implementation framework is now in place, project preparations are complete, and we are actively engaged with several highly qualified strategic institutional investors. Once financing is finalized, we are ready to mobilize construction and begin delivering clean energy to Zambia's grid."
The Company's immediate priority is selecting the right financing partner and completing the capital structure required to commence construction. The Zambia project is expected to become the first utility-scale renewable energy asset within Stardust's long-term infrastructure ownership strategy and a cornerstone of its expanding international renewable energy platform. In addition to Zambia, Stardust continues to advance renewable energy opportunities across Mexico, the Caribbean, South America, and Africa, while expanding its North American commercial solar, distributed energy, lease-to-own financing, and renewable infrastructure platform.
As global electricity demand accelerates, driven by artificial intelligence, digital infrastructure, industrial electrification, and economic development, Stardust is positioning itself to capitalize on long-duration renewable infrastructure opportunities while building a diversified portfolio of recurring revenue-generating energy assets.
About Stardust Solar Energy Inc.
Stardust Solar Energy is a globally expanding renewable energy company supporting the installation, development, training, and deployment of residential, commercial, and utility-scale solar solutions across international markets. The Company operates a diversified solar royalty platform generating recurring revenue through franchise installation operations, accredited training and development licenses and subscriptions, and technology-driven innovation initiatives. Through formal engagement with governments, utilities, and commercial stakeholders, the Company is scaling renewable energy capacity worldwide.
Media and Investor Contacts:
Erica Bearss, MBA, DBA (c)
VP Corporate Communications
investors@stardustsolar.com
www.stardustsolar.com
Stardust Solar Energy Inc.
B101-9000 Bill Fox Way
Burnaby, BC V5J 5J3 Canada
732 S 6th St, STE N
Las Vegas, NV 89101 USA
Follow us on Facebook | LinkedIn | Instagram
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311320
Source: Stardust Solar Energy Inc.
