CEC Renewables, a subsidiary of Copperbelt Energy Corporation PLC, CEC, has announced its first Green Bond Coupon payment of $2.4 million.
CEC Renewables, in collaboration with CEC PLC, registered Zambia’s first $200 million Green Bond Program, with a successful issuance of the first tranche equal to $53.5 million on December 21, 2023.
CEC Renewables Asset Manager, Hilton Fulele, says the proceeds from the Green Bond have been utilised in financing of the Company’s existing 34Megawats Solar Plant in riverside, Kitwe, and the development of the 60 Megawats Solar Plant in Itimpi, Kitwe.
Mr. Fulele expressed his satisfaction with the first coupon payment, adding that the first coupon not only demonstrates the viability of Green Bond investments for Zambia but also affirms its commitment to ensuring that they deliver value to investors.”
“CEC Renewables remains committed to being at the forefront of driving the growth of renewable energy in Zambia,” said Mr. Fuele in a statement issued to RCV News in Lusaka today.
Meanwhile, CEC PLC Group Chief Executive Officer, Owen Silavwe, emphasized the significance of CEC Renewables within the group’s sustainability strategy.
Angel Kasabo
