LUSAKA, Zambia, Sept. 14, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc. is proud to announce a landmark strategic equity investment partnership between the Investment Bank of Africa (IBA) and the Nalolo Solar Power Energy Company (NASPEC). This collaboration represents a pivotal step in advancing the Nalolo Solar Project, a major initiative driving Zambia's renewable energy transition.

Terra Metals Inc. holds vested interests in the Nalolo Solar Project through its principal shareholders, who are also shareholders in NASPEC, underscoring the company's long-term commitment to fostering sustainable economic growth and supporting Zambia's clean energy agenda.

“We are thrilled to announce this strategic partnership, which represents a major step forward for the Nalolo and Lukulu Solar Projects,” said Brian Chisala, Executive Director of Terra Metals Inc.

“This collaboration highlights our commitment to delivering clean energy solutions while advancing Zambia's sustainable development goals,” added Mushinge Mumena, Chairman of Terra Metals Inc.

Robert Solomon, Chief Financial Officer of the Investment Bank of Africa (IBA), stated: “This investment reflects IBA's strategy of channeling capital into high-value, sustainable infrastructure projects that generate strong financial returns while mitigating long-term risks. The Nalolo Solar Project is underpinned by solid fundamentals, rising energy demand, and government support, ensuring both profitability for stakeholders and measurable socio-economic impact for Zambia.”

“This partnership is a defining moment for NASPEC and Zambia's renewable energy journey. With IBA's strategic investment and Terra Metals' vested interests, the Nalolo Solar Project is positioned to deliver clean, reliable, and affordable power while creating employment, driving industrial growth, and enhancing climate resilience,” said Dr. Victor Ryan, Chairman of NASPEC.

The Nalolo Solar Project is expected to play a transformative role in Zambia's energy transition, driving economic growth, expanding employment opportunities, strengthening energy security, and supporting the country's climate and sustainability commitments.

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