Copperbelt Energy Corporation (CEC), through its special purpose vehicle CEC-Kabompo Hydro Power Limited (CEC-KHPL), has signed an Investment Promotion and Protection Agreement (IPPA) with the Zambia Development Agency (ZDA) for the Kabompo Gorge hydroelectric project in the Solwezi and Mwinilunga Districts of Zambia.

The IPPA is a critical milestone in the development of the 40MW Kabompo project, CEC said in a statement, as it will ensure promotion and protection of the $220 million investment in Zambia’s North-Western province, the first such power project to emerge from the area.

CEC and CEC-KHPL Chairman, Hanson Sindowe, added that with the IPPA in place, greater lender and investor confidence was expected, including the ability to secure fiscal concessions critical in ensuring the project’s viability.