Zambia’s CEC Secures $97M for Solar

Key Figures & Findings:
Copperbelt Energy Corporation (CEC) Renewables a leading power infrastructure solutions provider based in Zambia, focusing on electricity generation, transmission, and distribution has raised an impressive $97 million through its second green bond issuance to expand the Itimpi Solar PV Plant. This project is slated to add 136 MW of solar capacity, bringing CEC’s total renewable generation to 236 MW, aligning with Zambia’s vision for a sustainable energy future. Backed by investors like FMO, ALCB Fund, and Stanbic Bank Zambia, this move reinforces CEC’s pivotal role in advancing clean energy in Southern Africa. 

Statistics & Insights:
The two solar plants funded by the 2023 issuance have already contributed over 166,000 MWh of power to Zambia and the DRC. The latest bond, arranged by Cygnum Capital, demonstrates strong investor confidence in CEC’s clean energy projects, with underwriters like Stanbic Bank Zambia championing the initiative.

Future Implications:
By 2025, the expanded solar capacity could help redefine Zambia’s energy landscape, reducing reliance on non-renewable sources and bolstering cross-border energy collaboration with the DRC. 

Source:  WAYA