02:11 PM EST, 01/13/2026 (MT Newswires) -- Stardust Solar Energy ( SUNXF ) on Tuesday said it secured a 20-year, utility-scale power purchase agreement in Zambia to support a 30-megawatt(MW) solar project with up to US$60 million to US$90 million in contracted gross revenues.

A statement noted the government-backed agreement establishes long-duration, recurring royalty streams and represents the "largest royalty-based infrastructure transaction" in the company's history, "materially advancing Stardust Solar's diversified global solar royalty strategy."

The company said that, through its partnership with its Zambian subsidiary, Stardust Solar Zambia, it secured a 30MW PPA with Zesco, a state-owned utility responsible for the majority of Zambia's national power transmission and distribution. It said that the contract provides the right to sell solar-generated electricity to the Government of Zambia at a fixed rate of US$0.07 per kilowatt-hour (kWh) for a 20-year term.

Based on current assumptions and national energy demands, the project is expected to generate total gross revenues of approximately US$60 million to US$90 million over the contract life, added the company.

Stardust Solar said under a fully executed loan and joint venture agreement dated Jan. 12, it will fund project development, construction and provide all utility-scale engineering and technical oversight.

The company will, in return, earn a 50% royalty on all energy revenues, after approved allowable operating expenses, for the remaining term of the PPA following repayment of the project loan and interest.

The 30MW utility-scale solar facility, comprising approximately 45,000 high-efficiency solar panels, is expected to reach commercial operation later this year upon completion of first 2MW of solar, phase 1 of the build.

"This agreement represents a defining milestone for Stardust Solar and the strongest validation to date of our royalty-based growth strategy," said Chief Executive Mark Tadros. "By securing a 20-year, government-backed power purchase agreement with a 50% recurring royalty interest, we are establishing long-duration, high-margin cash flows that directly support our objective of building a scalable global solar royalty platform while delivering clean, reliable energy to countries in need."

The company's shares were last seen up $0.02 to $0.14 on the TSX Venture Exchange.

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