14th June 2023 Lubumbashi, Zambia – Copperbelt Energy Corporation Plc (CEC) has emphasized the need for coordinated efforts in the transition to green energy sources.
Managing Director, Mr. Owen Silavwe, stated today during a sponsor interview session and panel discussion at the ongoing DRC Mining Week, that the Company is aware of the rising energy demand in the Southern African Development Community (SADC). The conversation was focused on the contribution of the SADC mining sector to the global energy transition.
He disclosed that the region’s energy supply shortfall is about 5,000 MW, further reiterating the need for significant investments in the energy industry both by the public and private investors to keep up with the growing demand.
“To help the energy gap, it is necessary to build important generating and transmission facilities and address inefficiencies in the existing infrastructure in the region. To assure quality and dependability in the face of climate change, an energy mix must be achieved based on an effective mix of renewable battery storage and dammed hydro plants. Governments in the region need to begin enacting frameworks to support this hydro-renewables conjunctive operation,” he added.
“Further, consideration must be made on how the mining sector can closely work with the energy sector to support project bankability for power projects. This is in view of the focus by governments in the region looking to use their balance sheets to address pressing social-economic needs, making the traditional mechanism of basing project bankability on sovereign guarantees an inviable option going forward,” he said.
Other panelists who included Benjamin Kabeya from AEE Power of the DRC, Mr. Ben Munanga, Chairman of the Board of Kamoa Copper South Africa and the DRC, and Jonathan Shaw, Chief Executive Director, and Founder of Nuru Sasu, discussed the need to address the issues that prevent or slow down private sector investments in the energy sector.
To fill the energy gap, CEC launched a 34 MW solar power plant in Kitwe and is now building a 60 MW one in Itimpi. Additionally, the company is now conducting feasibility studies for the Masaiti Wind Project, a different energy source that is anticipated to provide 138 MW of electricity.
For more information, contact:
Verona Mwila Nkolola
Head Corporate Communications
Copperbelt Energy Corporation Plc (CEC)
Email: [email protected]
About Copperbelt Energy Corporation Plc (CEC)
Copperbelt Energy Corporation Plc (CEC) is a Zambian power generation, transmission, distribution, and supply company, founded in the early 1950’s as the Rhodesia-Congo Border Power Corporation. Since its rebirth as CEC in 1997 the company has cemented its position in the Zambian and Southern African electricity supply industry. CEC a major supplier of power to the mining industry, operates in the Copperbelt Province of Zambia and the Katanga region of the Democratic Republic of Congo (DRC).
The privately-owned power utility is a member of the Southern African Power Pool, a pioneering international power trader in Southern Africa and publicly traded on the Lusaka Securities Exchange with more than 5,000 investors.
About DRC Mining Week
DRC Mining Week is an annual event that takes place in the Democratic Republic of Congo (DRC) and is the region’s largest mining and infrastructure exhibition and conference. Running for over 18 years, the event is key in shaping the industry and offers unlimited networking opportunities, valuable learnings, and insights with the aim of supporting the mining industry and encouraging the growth of the sector.