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Stardust Solar Energy Inc
Symbol SUN
Shares Issued 99,490,479
Close 2026-05-12 C$ 0.08
Market Cap C$ 7,959,238
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Stardust Solar signs LOI with Gamma Power

2026-05-12 20:55 ET - News Release

Mr. Mark Tadros reports

STARDUST SOLAR ENERGY SELECTS GAMMA POWER FOR ZAMBIA 30MW SOLAR PROJECT TRANSMISSION INFRASTRUCTURE BUILD, ESTABLISHING A MAJOR MILESTONE AND STRATEGIC UTILITY ASSET OWNERSHIP

Stardust Solar Energy Inc. has signed a letter of intent (LOI) with Gamma Power Systems Ltd., engaging Gamma Power as the selected vendor for the 30-megawatt transmission lines and substation infrastructure for the company's planned 30-megawatt solar power plant in Zambia. The LOI confirms Stardust Solar Energy's formal acceptance of Gamma Power's pricing and technical proposal for the engineering, procurement and construction of the 30-megawatt transmission infrastructure package, marking a major advancement toward the company's utility-scale project execution and infrastructure ownership in Zambia.

The transmission line and substation package represents the complete grid interconnection infrastructure required for the full 30-megawatt solar facility. The infrastructure package carries an estimated cost of approximately $646,452 (U.S.) plus 16 per cent VAT (value-added tax), representing a total anticipated infrastructure investment of approximately $750,000 (U.S.) and adding tangible utility-scale energy infrastructure assets to Stardust Solar Energy's balance sheet.

Importantly, Stardust Solar Energy is engaging Gamma Power directly outside of its local franchise entity, allowing the company to directly own and control the transmission lines and substation infrastructure. This structure provides Stardust Solar with another layer of enhanced long-term controls over the critical transmission infrastructure required for the grid connection of the company's planned 30-megawatt solar power plant facility.

The company's transmission infrastructure plans also provide several strategic long-term monetary opportunities, including the company's agency to charge connection fees for the use of the transmission line, the infrastructure-backed asset growth that may contribute to potential future financing or energy generation opportunities in the region, or the opportunity to resell the infrastructure to potential buyers such as the local state-owned utility or other energy resellers.

"Initiating the full critical transmission and substation infrastructure build for this project represents one of the most important milestones in Stardust Solar's planned 30-megawatt solar power plant development in Zambia," said Eamonn McHugh, chief operating officer of Stardust Solar. "This milestone reflects the strength of our team, partners, operational planning and our long-term vision of infrastructure-led expansion into such emerging and high-demand markets."

Following completion of the solar facility and subject to future approvals and commercial discussions, Stardust Solar intends to pursue the transfer and sale of the transmission line and substation infrastructure to ZESCO, Zambia's national electricity utility. The company expects this strategy to support recovery of its infrastructure investment following the completion of the 30-megawatt solar power plant build.

"This represents another major strategic milestone in the advancement of our Zambia utility-scale solar platform," said Mark Tadros, founder and chief executive officer of Stardust Solar. "Beyond supporting grid connectivity for the project, this infrastructure establishes a significant tangible asset position for Stardust Solar while strengthening our operational control over a critical component of the power generation and energy delivery process."

The planned transmission infrastructure is expected to serve as the primary interconnection system for the entire 30-megawatt solar development and is anticipated to play a critical role in enabling long-term electricity delivery under the company's previously announced 20-year power purchase agreement framework. This development further reinforces Stardust Solar Energy's advancement toward becoming a vertically integrated renewable energy infrastructure company with long-duration energy assets designed to support recurring revenue generation, infrastructure ownership and long-term shareholder value creation.

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 licences and subscriptions, and technology-driven innovation initiatives. Through formal engagement with governments, utilities and commercial stakeholders, the company is scaling renewable energy capacity worldwide.

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