Moira Mukuka Advises CEC Renewables on Second Issuance of Green Bond
Lusaka, Zambia – 6 December 2024 – Moira Mukuka Legal Practitioners is delighted to have supported CEC Renewables in the successful issuance of its second Green Bond under the USD 200 million CEC Renewables Green Medium-Term Note Programme.
The second tranche, valued at USD 96 million, will fund the development of the 136 MW Itimpi Phase 2 Solar Project, a significant step forward in bolstering renewable power generation in Zambia.
As legal advisors, Moira Mukuka provided advice on the project documents and the project finance structure of the existing Green Bond Programme within the Zambian capital markets, building on its involvement in the establishment of the Green Bond Programme and the issuance of the first tranche of Green Bonds in 2023.
Commenting on the transaction, Co-Managing Partner Sharon Sakuwaha stated:
“We are proud to contribute to our client’s strategic and sustainability objectives while supporting Zambia’s transition to green energy.”
Speaking at the launch, CEC PLC Managing Director and CEO, Owen Silavwe, remarked:
“The announcement of the second tranche equal to USD 96 million marks a second significant achievement in our unwavering commitment to advancing renewable energy adoption and addressing the climate change challenges of our time.”
Moira Mukuka Legal Practitioners remains committed to advancing the net-zero agenda through its expertise in capital markets, renewable energy, project financing, and project development, reinforcing its position as a leader in sustainable legal solutions.
For More Information Contact:
Sharon Sakuwaha
Co-Managing Partner
No.+260 966 082 780
Email: sharon.sakuwaha@moiramukuka.com
ABOUT US
Moira Mukuka Legal Practitioners provides support to clients in the development and financing of energy projects and the analysis and allocation of risk. We operate at the leading edge of legal trends which shape the energy industry. Our clients include private sector developers, financiers, contractors, users and service providers. While acting for one participant, we can therefore understand the perspective of the others.