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Zimbabwe Power Users Raise US$250 Million For Floating Solar Plant At Lake Kariba

3 months agoTue, 10 Dec 2024 05:15:33 GMT
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Zimbabwe Power Users Raise US$250 Million For Floating Solar Plant At Lake Kariba

Zimbabwe’s industrial power users, including mining companies, have secured US$250 million from the African Export-Import Bank to build floating solar panels at Lake Kariba, the world’s largest man-made lake.

According to Bloomberg, the Intensive Energy User Group made up of mining companies including a former local unit of Rio Tinto and Mimosa, plans a 250-megawatt solar plant with the potential to expand to 1 gigawatt of solar capacity.

The plant is expected to be implemented within 18 months.

Edward Cross, the IEUG chairman, said that the group received “oversubscribed” interest for financing.

Zimbabwe is currently facing severe power shortages due to drought, with the Kariba Dam generating only 125 megawatts (around 11% of its capacity) due to low water levels.

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IEUG holds a retail supply licence and a 20-year transmission agreement to connect to the national grid.

In a statement posted X, Afreximbank said that the project will integrate solar energy with existing hydropower infrastructure boosting Zimbabwe’s renewable energy capacity and ensuring reliable power. Reads the post:

At a Boardroom session during Africa Investment Forum 2024, Afreximbank showcased its support for Green Hybrid Power’s 1,000-megawatt hybrid floating solar photovoltaic facility on Lake Kariba, Zimbabwe.

This transformative project will integrate solar energy with existing hydropower infrastructure, boosting Zimbabwe’s renewable energy capacity and ensuring reliable power for industries and mining under a 20-year Power Purchase Agreement.

With an initial phase targeting 250 MW at $250M, Afreximbank’s Project Preparation Facility, signed in April 2024, is driving feasibility studies and engineering designs.

Chaired by Mr. Zitto Alfayo, Head of Project Preparation Unit, this initiative underscores Afreximbank’s commitment to sustainable development, green economies, and fostering trade through reliable energy.

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30 Comments

7@$h!0n🎙👉🔊👉🎤 · 3 months ago
hio
Bvoricho Bvoricho · 3 months ago
zvobuda here izvi bcz nhasi ndaona pa office dze zesa pachiiswa ma solar kuti tigokwanisa kutenga magetsi kana magetsi acho ainda
wert · 3 months ago
gwanda solar panels vachatofa tisati taionazve
tavez.com · 3 months ago
🤐🤐🤐🤐🤐
But Wait !!!!! · 3 months ago
so what will the solar panels float on when kariba is totally dry and there is no water for anything to float on? will the floating solar plant float in the air ?
Zimbabwean · 3 months ago
How will kariba run dry
Wasu · 3 months ago
250mw 4 250m. saying 1mw onemillion
Zimbabwean · 3 months ago
Yes still expensive the cost is usuly around 800 to 900k /mw but it's better compared to the gwanda prohect
hoyooo · 3 months ago
ichi chideal chiponzi scheme🤣🤣🤣🤣🤣
ZimSketch · 3 months ago
i believe this is not one of the megadeals always anounced through ZBC and Herald ............
laugh emoji1
Learned Green Bomber · 3 months ago
Do not allow baby elephant chivhayo near the project and why floating in kariba. We have lots of open spaces in Zimbabwe
laugh emoji1
Nyamatsatse · 3 months ago
Saka Chivhayo itori threat to national security
zig zigler · 3 months ago
let it feasible not kuperera pasosho
...,. · 3 months ago
Afreximbank? Ed Cross? Zimbabwe?
Khan · 3 months ago
1 million for 1MW raised...red tape kicks in starting from the local councillors, MPs, P,D,O, Devolution minister, local gvt minister etc...
1
Anonymous · 3 months ago
Marine life can still get light from the Zambian side of the Kariba waters.
Detective Pikachu Pokemon · 3 months ago
ukangonzwa pakangotaurwa kuti Chivhayo paproject iyi haa zvinenge zvatovharana sezvakaitika paGwanda
zii · 3 months ago
apa wicknell anofa nemari, wait and see
Wene Wacho · 3 months ago
Another tender for Sir Wiki Nero.
Zimbabwean · 3 months ago
It's already awarded to another company
Corruptmore Looto · 3 months ago
Good thing that it's a private initiative as the Government has consistently failed to provide adequate power and just like with everything else in the country it's left up to private individuals and entities to look after themselves.
Heavy Internet User · 3 months ago
floating panels.. good idead but, won't it affect marine life by restricting sunlight penetration ?
hoy · 3 months ago
nop the put them at a 90-80degree level maintaining both marin and enough sunlight dummy
@hoy · 3 months ago
You are lying dummy they float horizontally in the water.
@hoy · 3 months ago
You are lying they float horizontally above the water
Jah🇿🇼Tsvarie-07 · 3 months ago
Its a gud move that need to be done in reality coz talk is cheap...
dinosaur · 3 months ago
uçhanzwa zvichinzi mari yacho yakazongo disappear and the project failed

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