ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy
ZCCM Investments Holdings PLC (ZCCM-IH) has announced a $10 million (approximately ZMW 275 million) investment in the second tranche of CEC Renewables Limited’s (CEC-R) Green Bond issuance.
This strategic move underscores ZCCM-IH’s commitment to advancing sustainable energy and supporting Zambia’s capital market growth.
The second tranche of the bond raised $96.7 million, earmarked for expanding the 60 MW Itimpi-1 solar photovoltaic (PV) plant into the 136 MW Itimpi-2 project.
This initiative seeks to address Zambia’s persistent energy crisis by bolstering the country’s renewable energy infrastructure.
Dr. Ndoba Vibetti, CEO of ZCCM-IH, highlighted the broader impact of this investment:
“Our mission is to create tangible wealth sustainably for the benefit of the Zambian people and all our stakeholders. This bond aligns with our strategic focus on energy growth, particularly amid Zambia’s energy challenges, while reducing our carbon footprint.”
The investment aligns with ZCCM-IH’s 2023–2026 strategic plan, which prioritizes growth in the mining and energy sectors. By participating in the CEC-R Green Bond, ZCCM-IH diversifies its investment portfolio, increases returns, and supports Zambia’s transition to renewable energy.
The CEC-R Green Bond adheres to the International Capital Market Association (ICMA) Green Bond Principles, ensuring its transparency and sustainability impact.
The bond was privately placed and is listed on the Lusaka Securities Exchange (LuSE), promoting further development of Zambia’s capital market.
This investment marks a significant step in ZCCM-IH’s commitment to fostering renewable energy solutions while contributing to Zambia’s economic and environmental goals.
By expanding solar energy capacity and supporting green financing, ZCCM-IH reinforces its role in shaping a sustainable energy future for the nation.
