By NATION REPORTER
COPPERBELT Energy Corporation (CEC) has listed US$200 million green bond on the Lusaka Securities Exchange (LUSE).
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The money will be used to fund solar energy generations with the ambition being 200 megawatts.
CEC Board Chairperson, London Mwafulilwa, said the listing of the green bond on the stock exchange is a pivotal moment for CEC and the country’s capital markets.
Mr. Mwafulilwa sad the bond is a demonstration of the interest in the country to advance renewable energy for a greener Zambia.
Mr Mwafulilwa said that the first green bond was announced on the sidelines of the Conference of Parties (COP 28) summit last December.
He said this saw the first US$54 million allotment fully subscribed by December 28, 2023.
And Finance and National Planning Minister Situmbeko Musokotwane hailed CEC for listing the first ever green bond for Zambia’s capital markets.
Dr. Musokotwane said he is pleased that funding raised from CEC’s US$200 million green bond will be directed toward solar energy generation investments of about 200 megawatts.
Speaking at the same event, Energy Minister Peter Kapala said the Energy ministry plans to increase the electricity generation capacity to 4, 460 megawatts by 2026 with renewable energy from three percent to 10 percent of the energy mix.
And Green Economy Minister Collins Nzovu has commended CEC for venturing into the green bond as it will enable the country to promote green economy and sustainability.In a speech read by Green Economy Permanent Secretary Douty Chibamba, Mr. Nzovu said the ministry stands ready to support the private sector in the green growth ventures.
LuSE Board Chairperson Kayula Siame said the listing of CEC’s green bond on the stock market is a demonstration of how the capital markets work in supporting growth in the economy.
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