Zambia’s CEC has commissioned the 136 MW Itimpi II plant in the Kitwe region
It cost $125.8 million and was funded through a $200 million green bond
The project increases CEC’s total solar capacity from 94 MW to 230 MW
Copperbelt Energy Corporation (CEC), the Zambian power generation utility, has commissioned a 136 MW solar PV plant, calling it the country’s largest operational PV facility.
The Itimpi II solar PV plant in the Kitwe region was built at a cost of $125.8 million within 14 months. Funded through a $200 million green bond, the project is among the largest in Sub-Saharan Africa, said CEC. This expands the utility’s total solar capacity from 94 MW to 230 MW. It commissioned the 60 MW Itimpi Solar PV Plant in 2024 (see Africa Solar PV News Snippets).
The company says that by using green bonds, it has been able to prove that local capital markets can independently fund mega-projects without relying on sovereign debt.
“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,” it added.
It is also expected to cut around 101 tonnes of carbon emissions annually. The project created more than 2,500 jobs, with over 95% filled by Zambians, and involved local firms and institutions, contributing to skills development in the renewable energy sector.
CEC now plans to expand its solar capacity beyond 500 MW by 2027 as part of its broader renewable energy strategy. It will also use the remaining green bond funds to deploy battery energy storage systems (BESS), which will effectively transition intermittent solar generation to reliable, dispatchable energy and turn the sun into a ‘baseload power alternative’.
Earlier this year, Zambia launched a 300 MW solar PV tender with battery storage under the country’s 1st Carbon-based FIP (CFIP) tender window (see Zambia Launches 300 MW Solar-Plus-Storage Tender).