CEC sets eyes on US$12bn investment
By Mast Reporter
THE Copperbelt Energy Corporation (CEC) says it needs US$12 billion in investment and delivering 10 gigawatts of new generation capacity by 2030 to help ease Zambia’s energy crisis.
Managing director Owen Silavwe called for accelerated private-sector investment in Zambia’s electricity sector to attain the country’s target of producing three million metric tonnes of copper annually by 2031.
Speaking at the Zambia Country Showcase during the Investing in African Mining Indaba in Cape Town, South Africa, Silavwe said government’s bold growth agenda and progressive reforms in the mining and energy sectors had significantly strengthened Zambia’s investment climate.
“If we are to support the mining sector’s ambition of producing three million metric tonnes of copper annually by 2031, we must accelerate the development of energy infrastructure. This will require mobilising close to US$12 billion in investment and delivering 10 gigawatts of new generation capacity by 2030,” Silavwe said.
He said Zambia continued to distinguish itself in the region through policy liberalisation and the implementation of open access in the electricity market, which clearly signaled a pro-business environment designed to attract capital.
The expansion of the mining sector and Zambia’s broader economic transformation would ultimately hinge on the power sector’s ability to deliver reliable, expandable and diversified energy supply.
Silavwe described recent supply crisis as a turning point for both public and private players in the energy ecosystem.
“The experience of supply gaps has awakened both public and private stakeholders to the urgency and the opportunity before us. This is not merely a crisis; it is a catalyst to reimagine and accelerate Zambia’s energy future,” he said.
CEC was committed to supporting Zambia’s energy security agenda through strategic partnerships, innovation and the mobilisation of private capital to deliver sustainable, long-term solutions.
The firm is currently advancing more than 250 megawatts (MW) of renewable energy projects and continues to strengthen cross-border transmission infrastructure.
Through its active participation in the Southern African Power Pool, CEC also plays a pivotal role in facilitating regional energy trading and enhancing power security.
