ZCCM-IH Invests in Renewable Energy with ZNEC

ZCCM Investments Holdings Plc, in collaboration with Zambia's Ministry of Finance and National Planning, has established the Zambia National Energy Corporation Limited (ZNEC). ZNEC's mission is to execute energy investments within Zambia, particularly the Presidential Constituency Energy Initiative (PCEI). This initiative, sanctioned by the Cabinet, aims to deploy renewable energy solutions in 156 constituencies, targeting a 312 MW total capacity.

The investment is valued at USD 202 million, comprising 70% debt and 30% equity. ZCCM-IH will contribute USD 36.36 million in equity, translating to a 60% share, while MoFNP holds 40%. Approved by regulatory bodies, the transaction is categorized as a Small Related Party Transaction, bypassing the need for shareholder approval. An Independent Fairness Opinion will be conducted later.