Stardust Solar advances 30 MW project in Zambia

Vancouver, British Columbia--(Newsfile Corp. - August 27, 2026) - Stardust Solar Energy Inc. (TSXV: SUN) (OTCQB: SUNXF) (FSE: 6330) ("Stardust Solar" or the "Company"), a globally expanding renewable energy company, is pleased to highlight new BNN Bloomberg coverage featuring the Company's flagship 30 MW utility-scale solar project in Zambia and its broader global renewable energy growth strategy.

The BNN Bloomberg feature, "Stardust Solar's 30 MW Zambia Project Enters a Pivotal Stage," follows the Company's recent announcement of final Government of Zambia approval to execute the project's Implementation Agreement. With the project advancing from planning toward financial close, the feature provides investors with insight into the project's commercial framework, proposed structure, selected vendors, estimated financials, and role within Stardust's expanding renewable energy platform.

"This coverage comes at an important point in Stardust's evolution," said Eamonn McHugh, COO of Stardust Solar. "We have established a scalable North American franchise network and are now leveraging that foundation to pursue significantly larger opportunities in international markets, utility-scale energy development and long-term renewable energy assets. Zambia demonstrates the scale of where that strategy can take us."

Stardust has advanced the project toward construction, with Gamma Power Systems Limited selected for the overhead transmission infrastructure and POWERCHINA International Limited , one of the world's largest power engineering contractors, selected for the 30 MW solar PV facility build . The project is proposed to be structured through a special purpose vehicle (SPV) and debt-equity investment model, bringing together Stardust, local interests and outside investment partners. The structure enables Stardust to capture value from the project's development economics and long-term asset ownership while limiting public-company capital requirements, reducing project-level exposure, minimizing potential shareholder dilution and preserving shareholder value . It also provides a scalable model for future renewable energy infrastructure projects.

Stardust is positioned as the developer of the 30 MW project, which, based on current final project budgets and quotations from POWERCHINA, Gamma Power Systems and Stardust, is estimated to represent approximately US$30 million in revenue for the project development.

POWERCHINA's economic analysis of the project forecasts approximately US$90 million to US$100 million in gross energy sales over the 20-year Power Purchase Agreement ("PPA") term at the contracted US$0.07 per kilowatt-hour tariff.

The project's commercial and risk-mitigation framework includes:

Power Purchase Agreement (PPA): With ZESCO Limited, Zambia's national state-owned electricity utility, to purchase electricity at US$0.07 per kilowatt-hour for the 20-year term.

Direct Agreement: Providing Stardust and applicable project partners or special purpose vehicles with contractual rights and agency relating to the Power Purchase Agreement.

Implementation Agreement: Provided by the Ministry of Energy of the Government of the Republic of Zambia, providing additional government support and approval of the project.

Sovereign Payment Guarantee: A payment security provided by ZESCO associated with the Government Republic of Zambia securing payments for PPA energy sales.

Export Development Canada (EDC) Insurance: Conditional approval for up to US$2 million in receivables insurance, subject to Export Development Canada's final terms and conditions.

Together, these agreements and payment-security mechanisms strengthen the project's investment framework and provide additional protection for long-term project receivables.

With the PPA, Direct Agreement, Implementation Agreement, payment-security framework, development partners and proposed investment structure advanced, the project is now positioned to advance from planning into its financing phase. Stardust is currently engaging with several prospective investment partners, including equity firms and investment banks, regarding participation in the proposed SPV and debt-equity structure. Subject to financial close, final contractual requirements and customary closing conditions, the Company is prepared to advance toward groundbreaking and construction following financial close.

"The commercial agreements, government framework, payment-security mechanisms, reputable vendors and proposed investment structure are aligned," said Eamonn McHugh, COO of Stardust Solar. "Our focus is now on securing the right investment partners, completing financial closure and moving the project toward construction."

The Zambia project represents a cornerstone of Stardust's next phase of growth, as the Company builds on its established North American franchise network to pursue international expansion, utility-scale development and long-term energy asset ownership. The latest video takes investors inside this evolution to highlight the Zambia opportunity, the strategy behind it and where Stardust is going.

Cannot view this video? Visit: https://www.youtube.com/watch?v=8TYTB8dZlMM

Investors can view the full BNN Bloomberg feature and video for additional insight into the Zambia project, its investment structure and Stardust's broader global growth strategy.

View the full BNN Bloomberg feature and video:

https://www.bnnbloomberg.ca/investment-trends/2026/08/26/stardust-solars-30-mw-zambia-project-enters-a-pivotal-stage/

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 USA Follow us on Facebook | LinkedIn | Instagram

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311783

TMX Newsfile

August 27, 2026 - 5:30 AM PDT

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