Stardust Solar Advances Global Expansion Strategy Through Government and Utility Alignment in Zambia

Rhea-AI Summary

Stardust Solar (OTCQB:SUNXF) advanced its Zambia expansion on February 23, 2026, through government and utility engagements aimed at accelerating project planning, regulatory alignment, and long-term development.

Key items include continued coordination with the Ministry of Energy and ZESCO, a previously announced 20‑year government‑backed PPA for a 30MW solar project, and completed financing to support development and working capital.

Positive

• 20‑year PPA for a 30MW utility‑scale solar project
• Completed financing to support project development and working capital
• Direct government and utility engagement supporting regulatory facilitation

Negative

• Project remains in planning and requires development approvals and milestones
• Zambia's hydro‑dominated grid signals integration and seasonal generation risks

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Vancouver, British Columbia and Lusaka, Zambia--(Newsfile Corp. - February 23, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company") continues to advance its international utility-scale solar strategy through a series of diplomatic, government, and national utility engagements in Zambia. These activities mark continued progress toward the next phase of project planning, regulatory alignment, and long-term development as the Company expands its global renewable energy platform.

Represented on the ground by Chief Operating Officer Eamonn McHugh, the Company engaged directly with senior government officials, national utility leadership, and key stakeholders to support the advancement of its proposed solar developments. These discussions reinforce Zambia's strong commitment to expanding energy infrastructure and partnering with private sector investors to meet growing national demand.

Meetings with senior representatives from the Ministry of Energy and national leadership reinforced Zambia's clear commitment to enabling energy investment and accelerating project development. Discussions highlighted the government's supportive regulatory environment, willingness to facilitate project approvals, and recognition of the important role private investment will play in expanding electricity capacity.

From our meeting with Zambia's Her Honour, the Vice President Mutale Nalumango:

"You are most welcome to Zambia. The energy market is huge, especially for what you are doing. From our perspective, solar and clean energy are the way to go. For us to industrialize, we will need energy, particularly for mining, which depends on reliable power. With our growing population, demand for energy will only continue to rise. We are also very integrated energy-wise with our neighboring countries, so the market is huge. The opportunity here is significant, and your work will play an important role in powering Zambia's future growth."

Zambia presents a compelling renewable energy market, supported by strong solar resources, rising industrial power demand, and a population exceeding 20 million. The country's openness to foreign investment and focus on energy security create strong long-term growth opportunities.

"Our work in Zambia reflects our commitment to partnering with governments and utilities to meet the accelerating energy demand," said Eamonn McHugh, Chief Operating Officer of Stardust Solar. "We are grateful for Zambian leadership's collaboration and shared vision to accelerate deployment of clean energy infrastructure in support of industry, economy, and the people."

The Company also engaged with leadership from ZESCO and key stakeholders on Zambia's growing electricity demand and need for new generation capacity. With a structural power deficit and hydro-dominated grid, the country is prioritizing diversification through solar. The Company continues advancing project planning through coordination with government, utilities, and local partners as development progresses toward key milestones.

This work builds on the Company's previously announced 20-year government-backed power purchase agreement (PPA) with Zambia's national utility ZESCO for a 30MW utility-scale solar project, expected to generate significant contracted revenue and recurring royalty cash flows over the life of the PPA. The Company recently completed a financing to support project development and strengthen working capital.

Stardust Solar's engagement in Zambia reflects the Company's broader strategy to expand its global renewable energy platform through disciplined planning, structured development, and strong government and utility collaboration. By advancing projects in markets with supportive policy environments and growing energy demand, the Company continues to build a scalable international pipeline while supporting long-term energy security and sustainability.

About Stardust Solar Energy Inc.

Stardust Solar Energy Inc. 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 revenues through clean-energy franchise installation operations, technology initiatives including the StarDroid AI device, and training and development licences and subscriptions. 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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284864

FAQ

What did Stardust Solar (SUNXF) announce about its Zambia expansion on February 23, 2026?

Stardust Solar advanced utility‑scale project planning and regulatory alignment in Zambia. According to the company, meetings with government and ZESCO aim to accelerate approvals, coordinate project development, and support long‑term deployment of a 30MW solar project under a 20‑year PPA.

Does Stardust Solar (SUNXF) have a power contract in Zambia and what are its terms?

Yes. Stardust Solar holds a 20‑year, government‑backed PPA for a 30MW project. According to the company, the PPA is with national utility ZESCO and is expected to generate contracted revenue and recurring royalty cash flows over its life.

How will the completed financing announced by Stardust Solar (SUNXF) affect the Zambia project?

The financing supports project development and strengthens working capital for near‑term activity. According to the company, funds were completed to advance planning, meet development milestones, and prepare the 30MW project for implementation.

What risks did Stardust Solar (SUNXF) note about developing solar projects in Zambia?

Project development remains subject to approvals and integration challenges with a hydro‑dominated grid. According to the company, Zambia's structural power deficit and seasonal hydro reliance create considerations for solar integration and grid management.

Who represented Stardust Solar (SUNXF) in Zambia and what engagement occurred with officials?

COO Eamonn McHugh led engagements with senior government and ZESCO leadership. According to the company, discussions focused on regulatory facilitation, energy demand, and collaboration to accelerate private‑sector solar investments in Zambia.