Zambia power map showing the Copperbelt region

Zambia’s Copperbelt Energy Corporation raises $199m via green bond and financing round

Issue 499 - 31 Jan 2024 - By Chiwoyu Sinyangwe | 2 minute read

The Copperbelt Energy Corporation (CEC) raised $145m in an investment round led by private equity investor Affirma Capital in early January, quickly followed by the listing of a debut $54m ‘green bond’ on the Lusaka Securities Exchange.

The bond is the first part of a planned $200m issuance programme, which was launched in December to fund an expansion of the company’s solar PV generation capacity. Managing director Owen Silavwe, gave African Energy an update on the progress of the 60MW solar PV project at Itimpi, which will take CEC’s solar capacity to 96MW.

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