Itimpi Solar PV Plant (136MW), phase II

active

The project comprises the second phase of CEC Renewables’ Itimpi Solar PV Plant, located at Kitwe, Kitwe District, Copperbelt Province in Zambia. CEC Renewables, is a subsidiary of the Copperbelt Energy Corporation (CEC). The sponsor funded the initiative with the issuance of its second Green Bond tranche, valued at $96.7 million and announced in the beginning of December 2024. It has been realized a year after the issuance of the first tranche in 2023. Itimpi Solar PV Plant is expected to contribute 136 MW to the Company’s renewable energy portfolio and to the grid of Zambia. The issuance of this tranche was facilitated by Cygnum Capital, serving as Lead Arrangers, with Stanbic Bank Zambia as Lead Manager and Underwriters. Other bondholders include: ZCCM Investments Holdings Plc (ZCCM-IH), FMO, the Dutch entrepreneurial development bank, African Local Currency Bond Fund (ALCB Fund), Emerging Africa and Asia Infrastructure Fund Limited (EAAIF). Preparation for the development of Itimpi Phase Two is underway in the end of 2024, with the plant scheduled for commissioning in 2025. https://cecinvestor.com/cec-renewables-announces-issuance-of-second-green-bond-tranche-valued-at-usd-96-7-million/ https://cecinvestor.com/cec-renewables-announces-issuance-of-second-green-bond-tranche-valued-at-usd-96-7-million/