Closing SoonGT-2026-015· Listed Jan 22, 2026
Zambia Copperbelt Solar Mini-Grid & Mining Power Reliability
180 MW solar-plus-storage portfolio stabilising grid reliability for copper mining and surrounding communities.
Zambia · Africa Energy & Renewables Project Finance — Senior Debt Closes Jul 31, 2026
Raise Target
$110.0M
Committed
$94.0M
Min Ticket
$2.0M
Target Return
13–15% IRR
Horizon
10–12 yrs
85% subscribed · $16.0M remaining
Executive Summary
Deployment of 180 MW of solar generation and 60 MWh battery storage across four sites on the Copperbelt, addressing chronic load-shedding that constrains copper production and household electrification. Power is sold under a blended PPA structure to a national utility and two mining offtakers.
Investment Thesis
- National grid load-shedding has cut copper output by an estimated 8% annually — reliable power is the binding constraint on export earnings.
- Blended PPA with mining offtakers at commercial rates cross-subsidises utility-scale tariff affordability.
- Battery storage enables firm capacity commitments, unlocking capacity payments beyond energy sales.
Use of Funds
Solar PV construction (4 sites)45%
Battery storage systems30%
Grid interconnection upgrades15%
Contingency & reserves10%
Financial Snapshot
Annual revenue (post-COD)
USD 42.3M
DSCR (base case)
1.59x
Equity IRR (base case)
14.1%
Payback
7.8 yrs
Transaction Structure
USD 82M senior debt (DFI club), USD 28M sponsor equity. Deal Room slice in senior debt tranche.
Risk & Mitigation
Key Risks
- · Utility payment timeliness
- · Currency devaluation risk
- · Mining offtaker commodity cycle exposure
Mitigants
- Partial risk guarantee from multilateral agency on utility payment obligations
- USD-denominated PPA with local-currency pass-through mechanism
- Mining offtake contracts fixed regardless of copper price
Timeline & Milestones
- 2025 Q1PPA execution with utility and miners
- 2025 Q3EPC contractor selection
- 2026 Q1Senior debt commitment
- 2026 Q3Financial close
- 2027 Q4Full commissioning across four sites
Sponsor
Copperbelt Power Partners
Copperbelt Power Partners is a Zambian-South African renewable energy developer with 340 MW of operating solar assets across Southern Africa.
ESG & Impact
- Avoids ~410,000 t CO₂/yr vs. diesel backup generation
- Displaces load-shedding for 60,000 households
- Local content requirement of 35% on construction
Data Room
Investor Teaser
PDF · 14 pp
Information Memorandum
PDF · 88 pp
Financial Model
XLSX
PPA Term Sheets
PDF
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