People
SDG 7.1 + 7.2 – Access to affordable and reliable renewable energy.
Expected impact: 105k consumers are expected to benefit. The users who consume the most power will feel the largest impact.
Country
Zambia
Sector
Energy and Electrification
Total commitments
$20m
provided for a debt to anchor a $54m green bond issued by CEC to build two solar PV projects totalling 94MW of in Zambia (LDC). This will increase access of reliable electricity to 105k consumers and avoid 64k tCO2e per year.
Related SDG Goals
Planet
SDG 13 – Climate change mitigation.
Expected impact: Avoid 64k tCO2e per year.
Market Transformation
Challenge: No green bonds to date listed in Zambia.
Channel: Demonstrate the first green bond on the Lusaka Securities Exchange.
Outcome: Further green bond listings with private sector support.
Mobilisation
Mobilised $25.5m of private sector investment.
Climate
Resilience: A climate risk assessment was conducted for both projects. The Environmental and Social Action Plan (ESAP) includes emergency response training on managing on wildfires.
HSES
As part of the due diligence process, 42 HSES improvements and two HSES enhancements were identified which are now reflected in the Project ESAP. The HSES enhancements include providing GHG accounting, and the development of an end-of-life plan for e-waste.
