Local Power Producer Laments Over Scarcity Of Foreign Currency

4 years agoWed, 07 Aug 2019 10:57:01 GMT
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Local Power Producer Laments Over Scarcity Of Foreign Currency

A local power producer, Nyangani Renewable Energy, has bemoaned the scarcity of foreign currency which is blamed for the delay in finishing a solar project meant to contribute 10 megawatts to the national grid.

Nyangani Renewable Energy is jointly owned by UK companies.

The company has another project, established in 2018, which is contributing 2.5MW to the national grid.

Speaking to journalists on Monday during a plant tour organised by the Zimbabwe Electricity Regulatory Authority (Zera), plant manager, Fungai Bvirakare, said:

We are left with 7,5MW to complete the project, but economic hardships that we are going through as a country have derailed the completion of the project.

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We need foreign currency to import equipment for the project. If it was not for the foreign currency shortages, we should be done by year-end.

The country has a huge scarcity of foreign currency since it is exporting less than what it imports.

This revelation comes when the country is in desperate need of power. All sectors of the economy have projected losses if the power crisis goes unabated.

Meanwhile, Energy Minister, advocate Fortune Chasi revealed on Tuesday that the country had agreed on a 400MW power deal with ESKOM of South Africa.

If local power producers were producing electricity that matches their maximum capacity, Zimbabwe would not be contemplating importing power from neighbouring countries.

More: News Day



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