- The first $54 million payment of the $200 million green bond programme closes by the end of 2023.
- The programme aims to generate at least 200MW of renewable energy, specifically solar energy.
Zambia’s Copperbelt Energy Corporation Plc (CEC) has announced the registration of its green bond with the Securities and Exchange Commission on the sidelines of the COP 28 climate summit. The first $54 million payment of the $200 million bond programme closes by the end of 2023. This green bond registration is Zambia’s first move for its capital markets, which will attract more green finance to the country.
The Managing Director/Chief Executive Officer, CEC, Mr Owen Silavwe, said, “We are pleased to announce the registration of our US$200 million Green Bond, structured as a programme, whose proceeds will accelerate the actualisation of our ambitions to generate at least 200MW of renewable energy and specifically solar energy with possible storage implementation.”
On his part, the Minister of Green Economy and Environment, Engr Collins Nzovu, said the Zambian Government has developed a green growth strategy, which is part of its aspiration to become a prosperous middle-income country by 2023. He said the strategy is Zambia’s blueprint for greening the economy and environment by deliberately pursuing a resource-efficient, low-carbon, climate-resilient, and socially inclusive development trajectory.