Trafigura Exits Angola-DRC-Zambia 2,000 MW HVDC Project

Global commodities trader Trafigura has withdrawn from a proposed 2,000 MW high-voltage direct current transmission line designed to transport surplus hydropower from Angola to mining operations in the Democratic Republic of Congo and Zambia, removing a major backer from one of Southern Africa's most ambitious cross-border electricity projects.

The withdrawal was confirmed by two sources with direct knowledge of the matter and reported by Reuters on 15 July 2026. One industry source stated: "Trafigura has abandoned the project." A second source within the Angolan government confirmed the exit, saying: "Some changes having been made regarding the consortium members interested in implementing the contract," and noted the project remains under negotiation.

Project Scope and Original Structure

The HVDC interconnector was announced in July 2024 through a non-binding memorandum of understanding between Trafigura, engineering firm ProMarks and the Angolan government. The project was intended to channel excess renewable electricity generated by Angola's northern hydropower dams to the copper and cobalt-rich Copperbelt region in the DRC and Zambia, while integrating with the Southern African Power Pool.

Trafigura exited during the feasibility stage. No construction work had commenced, and the memorandum of understanding covered feasibility studies only, not a final investment decision or financing commitment. Power shortages have remained a persistent constraint on copper and cobalt production in the DRC and Zambia, both of which hold substantial reserves of critical minerals required for electric vehicles and renewable energy technologies.

When asked whether it still supported the initiative, Trafigura responded: "No comment." ProMarks did not respond to requests for comment. The Angolan Ministry of Energy and Water did not immediately respond to inquiries, leaving uncertainty over whether the government will continue pursuing the original project structure or seek alternative consortium partners.

Alternative Regional Transmission Projects

Despite Trafigura's withdrawal, other privately backed cross-border transmission initiatives are progressing in the region. Meridia Energy, a joint venture between Dubai-based Averi Finance and Morocco's Somagec, is advancing two major projects: the $450 million Soyo-Inga-Cabinda line with capacity of up to 800 MW and the $1.25 billion Lauca-Kolwezi transmission line with capacity of up to 1,400 MW. The projects are intended to connect Angola's national grid with Kolwezi, a strategic centre for copper and cobalt production in the DRC, while strengthening electricity supply in Angola's Cabinda province and linking Soyo to the DRC.

"We are targeting commercial operation of both lines by 2030," Joao Alvares, chief investment officer at Averi, told Reuters.

In addition, U.S.-based HYDRO-LINK is planning a separate $1.5 billion interconnector between Angola and the DRC. The approximately 1,200-kilometre project will include five substations and is intended to provide electricity primarily to mining regions in Lualaba and Katanga, with construction expected to take approximately two and a half years.

While Trafigura's exit removes a major international partner with infrastructure financing experience and mineral commercialisation expertise in the Copperbelt, the emergence of alternative transmission projects suggests Angola's longer-term ambition to export surplus renewable electricity and strengthen regional energy connectivity remains intact.