Africa-Press – Zambia. The Copperbelt Energy Corporation-CEC has disclosed that it is in advanced discussions with Zesco to roll out solar power plants across Zambia in a move aimed at boosting the country’s energy generation capacity.
Speaking during a panel discussion at the recently held Invest In Zambia international conference, CEC head of government relations Sylvester Hibajene said the company is committed to expanding its renewable energy footprint and strengthening Zambia’s national energy security.
Mr. Hibajene revealed that CEC is currently scaling up its solar energy capacity to 230 megawatts peak, backed by a $200 million green bond, aimed at delivering 500 megawatts of solar capacity across the country.
And Ministry of Energy permanent secretary for electricity, Arnold Simwaba, reaffirmed the government’s support for private sector players investing in the energy sector, emphasizing the importance of collaboration in achieving Zambia’s energy goals.
According to a statement, CEC and Zesco have since formed a joint planning team to coordinate their efforts, streamline resource allocation, and prevent duplication in the deployment of solar generation facilities.
The development comes as CEC continues to position itself as a leader in renewable energy investment with the Lusaka Securities Exchange-LUSE in may this year, announcing that the company had become the most valuable listed company on the market, with a valuation exceeding $1.2 billion, a record milestone for an indigenous Zambian firm.
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