Stardust Solar Receives Export Development Canada Insurance Indication for Up to US$2 Million of Zambia Energy Receivables
Rhea-AI Summary
Stardust Solar (OTCQB:SUNXF) received a non-binding indication from Export Development Canada for an Export Receivables Policy covering up to US$2 million of Zambia energy receivables. The 30MW project, backed by a 20-year PPA with ZESCO, could generate about US$90 million in gross revenues over its life.
The indication outlines 90% loss coverage, zero deductible, a proposed June 1, 2026–May 31, 2027 term, and an indicative premium of US$10,400 (0.650% rate), but remains subject to final EDC approval.
AI-generated analysis. Not financial advice.
Positive
- Non-binding EDC indication for up to US$2 million receivables insurance
- Proposed policy offers 90% coverage on eligible insured losses with zero deductible
- Indicative premium of about US$10,400, implying a 0.650% rate
- Flagship 30MW Zambia solar project tied to a 20-year PPA with ZESCO
- Project has potential to generate approximately US$90 million in gross revenues over its life
- Approval in principle for a US$2 million credit limit associated with ZESCO Limited
Negative
- EDC indication is non-binding and subject to final review and underwriting approval
- No assurance that the proposed export credit insurance policy will ultimately be issued
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company"), a globally expanding renewable energy company, announces that it has received a non-binding indication ("NBI") from Export Development Canada ("EDC") outlining the key features of a proposed Export Receivables Policy that would provide up to US
The proposed coverage is designed to insure eligible payments owed to Stardust Solar by the project's energy off-taker once electricity generation commences and invoices are issued. By securing access to export credit insurance, Stardust is strengthening the financial profile and bankability of its flagship 30MW utility-scale solar project in Zambia. Supported by a 20-year PPA framework with ZESCO Limited and ongoing transmission infrastructure development, the project has the potential to generate up to approximately US
"Obtaining this indication from EDC represents an important advancement in our project risk management strategy," said Mark Tadros, Founder and CEO of Stardust Solar Energy Inc. "As we continue advancing utility-scale opportunities internationally, access to export credit insurance can help support project financing discussions, strengthen cash flow visibility, and enhance the overall financial profile of our development pipeline."
"For investors, managing counterparty and payment risk is an important aspect of utility-scale renewable energy development," said Erica Bearss, VP Corporate Communications of Stardust Solar Energy Inc. "This indication from EDC provides meaningful third-party validation as we advance our Zambia project. EDC is one of Canada's leading trade and export institutions, conducting independent assessments before extending support. The potential availability of up to US
Based on the indication received from EDC, the finalized proposed policy would provide:
- US
$2,000,000 m aximum annual liability coverage 90% insurance coverage on eligible insured losses- USD-denominated policy protection
- Zero deductible
- Coverage for payment terms of up to 90 days
- Indicative annual premium of approximately US
$10,400 - Indicative premium rate of
0.650% - Proposed policy period from June 1, 2026 through May 31, 2027
The indication specifically references an approval in principle for a US
Stardust Solar continues to advance development efforts related to its renewable energy initiatives in Zambia and remains focused on implementing prudent risk management strategies that support shareholder value and long-term project success.
About Export Development Canada (EDC)
Export Development Canada is Canada's export credit agency and a financial Crown corporation dedicated to helping Canadian companies expand internationally. EDC provides financing, insurance, bonding solutions, and market expertise to support Canadian exporters and investors operating around the world.
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
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/300077