CEC Renewables mints $4.5m profit
By a Correspondent
THE Copperbelt Energy Corporation (CEC) Renewables Limited has posted increased profit after tax (PAT) of US $4.5 million in its half-year period ending June 30.
The increase from US$671,000 in the prior period was driven by significantly increased generating capacity and higher energy sales.
CEC Renewables Limited managing director Hilton Fulele said the company was well positioned to continue generating sustainable returns for shareholders while supporting the sustainability of Zambia’s energy sector.
The firm’s unaudited financial results for the period ending June 30, 2026, show that the company, a subsidiary of CEC Plc, posted increased PAT of around US$4.5 million, up from just US $671,000 earned in the corresponding period last year.
Fulele said the improved financial performance was mainly driven by increased generating capacity and higher energy sales, as well as a strong operational performance across its generation portfolio.
“These financial results mean the subsidiary company, which manages the Itimpi II Solar PV project commissioned in Kitwe on April 30, 2026, under its portfolio, has earned an unprecedented profitability after tax, boosted by increased generation capacity of 158.78GWh by half-year period this year, compared to 80.75GWh during the same period last year,” he said.
He said the company delivered a strong performance during the period in review, marked by continued progress in the execution of its renewable investment strategy.
“CEC Renewables delivered a strong performance during the six months ended June 30, 2026, marked by continued progress in the execution of our renewable investment strategy. A key milestone achieved during the period was the successful commissioning and integration of the 136MW Itimpi II Solar PV project, increasing the company’s installed solar generation capacity from 94MW to 230MW,” Fulele said.
“This significant expansion strengthens our generation portfolio, increases the availability of locally generated renewable energy and provides additional capacity to support growing energy demand.”
He said revenue increased to US$9.55 million from US $4.65 million in the corresponding period in 2025. EBITDA increased to US$8.68 million from US$3.55 million.
“These results reflect the contribution from increased generating capacity, higher energy sales and continued strong operational performance across our generation portfolio,” Fulele said.
Profit after tax increased significantly to US$4.51 million from US $0.671 million in the same period in 2025, primarily reflecting strong growth in operating earnings.
Fulele said that CEC Renewables remained well positioned to continue generating sustainable returns for shareholders.
“As we look toward the second half of 2026, our priorities will be focused on optimising the performance of the expanded 230MW portfolio, strengthening operational efficiency, and managing our capital structure prudently. With a larger operating asset base and established long-term power purchase agreements, the company is well positioned to continue generating sustainable returns for shareholders while supporting the sustainability of Zambia’s energy sector,” he said.
