Zambian electricity generation company Copperbelt Energy Corporation (CEC) has energized the 136 MW Itimpi II solar plant, billed as the country’s largest operational solar asset to date.
Located in Kitwe in northern Zambia, the $125.8 million project was funded by CEC’s $200 million Green Bond. A statement published by the company says that by successfully utilizing the bond it has “proven that local capital markets can independently fund mega-projects without reliance on sovereign debt.” The statement adds that it will direct the remaining Green Bond funds toward the deployment of battery energy storage systems.
The Itimpi II project, built on approximately 170 hectares of land, took 14 months to construct, created 2,568 jobs of which over 95% were held by Zambians and contracted 15 local companies and eight local consultants. Over 100 jobs have been made permanent.
CEC Chief Executive Officer, Owen Silavwe, said the project was driven by the urgent need to address the power deficit and reflects growing confidence in government policy. He added that the project will provide reliable supply to industry, particularly the mining sector.
CEC says it is working towards having more than 500 MW of solar generation capacity by 2027, up from 230 MW following the commissioning of the Itimpi II project.
Elsewhere in Zambia, the Zambian Development Agency and Sunshare Energy Limited have signed a $246 million investment promotion and protection agreement for the second phase of the Nambala solar power plant in Mumbwa, located in the country’s central province.
Image: Zambia Development Agency
The second phase, to add a combined 250 MW, will follow the development of a 100 MW solar plant in the first phase. Total investment in the project across both phases now stands at $300 million.
ZDA Director General, Albert Halwampa, commented that government reforms have significantly reduced approval timelines for energy projects, creating a more investor-friendly environment.
Last month, London-based independent power producer Globeleq announced work was underway on a 250 MW solar plus 150 MW/600 MWh battery energy storage system, billed as Zambia’s largest hybrid renewable energy project.
Other notable projects under development include the 100 MW Chipata West site, which broke ground last August, as part of the Zambian government’s target of deploying 1 GW of solar across ten sites.
The Africa Solar Industry Association (AFSIA) has identified 977.2 MW of operational solar in Zambia to date, according to figures available in its project database.
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