Affirma, Norfund and KLP provide $145m for CEC to build additional capacity

Private equity firm Affirma Capital, development finance institution Norfund and Norwegian pension fund Kommunal Landspensjonskasse (KLP) have invested $145-million in Zambian independent power producer and transmission company Copperbelt Energy Corporation (CEC). The aim is to build on CEC’s success by strengthening its leadership in the Africa decarbonisation programme, building additional renewable capacity, extending access to power in Zambia and the Democratic Republic of the Congo (DRC) and helping CEC to play a role in the liberalisation and evolution in the electricity market in Southern Africa, the companies say.