CGM Power Group Limited

Company Description

CGM Power Group Limited (CGM) is a pioneering, indigenous-owned Independent Power Producer (IPP) incorporated in 2016 in Zambia. The company is dedicated to driving innovation in the renewable energy sector and diversifying Africa’s energy landscape. CGM develops and delivers ESG-compliant clean energy solutions that contribute to sustainable commercial and economic growth, supporting Zambia’s transition toward low-carbon development.

Team

The strength of CGM lies in its experienced leadership and multidisciplinary team.

Its Board of Directors brings expertise in finance management, accounting, business strategy, project management, ICT, and cybersecurity, ensuring sound governance and sustainable decision-making.

A skilled management team leads renewable energy development, financing, and operations, supported by a dedicated implementation unit and external consultants in engineering, environmental compliance, and stakeholder engagement.

Advisors such as GET.invest enhance investment structuring and bankability, reinforcing CGM’s commitment to responsible, ESG-aligned project delivery.

Countries of Operation

Zambia

Ownership of Company

Local Company - 100% Zambian owned

Number of years since incorporated

9

Stage

Early Venture

Annual Revenue (in EUR)

EUR 0 – 10,000

Number of employees

11-50

Project Pitch

Mansa Power Development Limited (MPDL) and Chipili Power Corporation Limited (CPCL) are CGM’s flagship renewable energy projects addressing Zambia’s chronic energy shortfalls.

Each project entails a phased grid-connected utility-scale solar PV plant — MPDL (150 MWac) and CPCL (200 MWac) — with Battery Energy Storage Systems (BESS) to ensure firm, dispatchable power beyond daylight hours.

Both projects have secured bankable Power Purchase Agreements (PPAs), completed feasibility and environmental studies, and are aligned with carbon certification frameworks, each projected to offset up to 500,000 tCO₂/year.

Key benefits include:

• Power supply for 500,000+ households
• Creation of over 2,000 direct and indirect jobs
• Strong ESG frameworks for biodiversity and community impact
• Transparent governance and measurable social outcomes

CGM’s model combines technical innovation, sound financial planning, and strong partnerships to deliver scalable renewable energy solutions that strengthen Zambia’s grid and advance sustainable development.

Total Project Cost (in EUR)

€46.7 million for MPDL (Phase 1) and €50 million for CPCL (Phase 1)

Financing needs (in EUR)

€46.7 million for MPDL (Phase 1) and €50 million for CPCL (Phase 1)

Type of financing needed

Debt; Equity; Grant

Planned allocation of fundraising capital

Greenfield (new activity for the company)