NEWS

The CEC Group has commissioned the 136 MW Itimpi II Solar photovoltaic (PV) Power Plant in Kitwe, increasing its total solar capacity from 94 MW to 230 MW. Built in 14 months at a cost of US$125.8 million, the plant, funded by CEC’s US$200 million Green Bond, is now Zambia’s largest operational solar facility and the third in sub Saharan Africa.

Beyond infrastructure, this investment marks a strategic pivot for both the company and the nation as it supports diversified power sources and diversification of the country’s energy mix by reducing reliance on hydro-dependent grid power.

Furthermore, by successfully utilising the Green Bond, CEC has proven that local capital markets can independently fund mega-projects without reliance on sovereign debt.

The project has delivered significant localised value, and will offset approximately 101 MT of CO2 annually. Economically, it created 2,568 jobs, over 95% held by Zambians, while contracting 15 local companies and eight local consultants, including Copperbelt University. This enabled 1,000 local employees to acquire new skills from industry experts, creating a localized pipeline of renewable energy expertise that will outlast the construction phase.

From generation to dispatchable power, the meaning of this investment extends well into the future. By 2027, the Group intends to have more than 500 MW of solar generation capacity. More importantly, CEC plans to direct the remaining Green Bond funds toward the deployment of Battery Energy Storage Systems (BESS). For the company, this transition from intermittent solar generation to reliable, dispatchable energy will effectively turn the sun into a baseload power alternative. For Zambia, it means stepping into a new era of energy security ensuring that the engines of national development continue turning.