The CEC Group has commissioned the 136 MW Itimpi II Solar photovoltaic (PV) Power Plant in Kitwe, increasing its total solar capacity from 94 MW to 230 MW. Built in 14 months at a cost of US$125.8 million, the plant, funded by CEC’s US$200 million Green Bond, is now Zambia’s largest operational solar facility and the third in sub Saharan Africa.

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.

Furthermore, by successfully utilising the Green Bond, CEC has proven that local capital markets can independently fund mega-projects without reliance on sovereign debt.

The project has delivered significant localised value, and will offset approximately 101 MT of CO2 annually. Economically, it created 2,568 jobs, over 95% held by Zambians, while contracting 15 local companies and eight local consultants, including Copperbelt University. This enabled 1,000 local employees to acquire new skills from industry experts, creating a localized pipeline of renewable energy expertise that will outlast the construction phase.

At the commissioning event held on Thursday, 30 April 2026, Republican President Hakainde Hichilema positioned the project within Zambia’s broader energy strategy, highlighting the risks of the country’s historical dependence on hydropower and the urgent need to accelerate investment in alternative energy sources.

“This is a great day and another very important project that contributes directly to our objective of increasing electricity generation in Zambia,” he said. The President emphasised that diversification was no longer optional, but necessary for economic growth and export competitiveness. He reiterated the Government’s support for private sector participation, stating directly to developers: “You have our full support not partial support, but full support.”

CEC PLC Board Chairperson London Mwafulilwa said the commissioning of the plant was a bold statement that Zambia is ready, capable, and committed to driving progress through investment, partnership, and decisive action. “The project reflected real impact beyond infrastructure, and the Group remained committed to investing in the future, working with Government, communities, investors, and partners to build a stronger and more resilient nation,” he added.

For CEC PLC Chief Executive Officer Owen Silavwe, the achievement is a story of national empowerment. “Thousands of Zambians contributed their skills, effort, and dedication to bring this project to life, turning ambition into a landmark of national progress,” he stated, noting that Itimpi II is part of a broader commitment to expanding renewable energy and delivering sustainable power for long-term economic development.

Partners also weighed in on the broader implications. Securities and Exchange Commission Chief Executive Officer Philip Chitalu noted that CEC surpassed a US$100 million national capital markets target by raising US$156 million, demonstrating the power of local markets to fund national development.

Stanbic Bank Zambia Chief Executive Officer Mwindwa Siakalima commended CEC’s role in securing critical power supply, while Public Private Dialogue Forum (PPDF) Acting Deputy Director General Jacquiline Chishimba applauded the project for directly hitting national targets for job creation, wealth creation, and skills transfer.

From generation to dispatchable power, the meaning of this investment extends well into the future. By 2027, the Group intends to have more than 500 MW of solar generation capacity. More importantly, CEC plans to direct the remaining Green Bond funds toward the deployment of Battery Energy Storage Systems (BESS). For the company, this transition from intermittent solar generation to reliable, dispatchable energy will effectively turn the sun into a baseload power alternative. For Zambia, it means stepping into a new era of energy security ensuring that the engines of national development continue turning.

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