ZESA invites global investors to join IPP wave

by | Feb 20, 2022 | Business, Local News | 0 comments

ZESA invites global investors to join IPP wave

Nevanji Munyaradzi Chiondegwa

ZESA Holdings Executive Chairman Dr Sydney Gata has invited financers to invest in clean energy in Zimbabwe.

Dr Gata said with the country`s Vision 2030 aspiration, there is going to be more demand for power and solar farms, as the country`s industrial needs are rising.

He was addressing delegates at a business summit in the United Arab Emirates last week.

“Southern Africa indeed has a notable shortage of electricity. However, the Region is phenomenally endowed with vast opportunities for investments in renewable energy such as hydro power, solar, wind, and geothermal energy. Following the

pronouncement by China and other nations that they will stop financing coal fired electricity generation projects, Southern Africa now looks towards exploiting the potential in renewable energy,” said Dr Gata.

 

In the power generation sector, the ZESA Holdings Chairman spoke of the opportunities in Hydro-electricity generation namely the Ten Gorges Project.

The massive hydro resources, the Ten Gorges lie on the Zambezi and Kafue River Basins with potential for joint development of solar and wind resources, which have characteristic high intermittence and low intensity, with the hydro-electricity reservoirs providing natural high capacity storage.

 

Five of the ten gorges have potential for pump storage which can help to improve plant load factor. This developing and conjunctive operation strategy will serve the countries from emerging lithium battery and hydrogen fuel cell storage technologies, which are still pending technological and commercial demonstrations.

Dr Gata said the way green energy investments are capital intensive, Governments will not be able to fund them without assistance.

“The private sector are openly invited and welcome to participate in the investment, development and operation of electricity supply sector. Globally, it is well accepted that governments alone have no capacity, among multiple competing requirements, to fund electricity sector to the extent required,” said Dr Gata.

There is already some progress being made by Zimbabwe in courting IPPs.

“Independent power producers are already playing a significant role in the sub region, with Zimbabwe having licensed 94 such IPP companies. There is therefore a business case for the global community to consider exploiting the vast opportunities available in Southern Africa in the power supply industry,” said Dr Gata.

“The most significant contribution will come from grid scale solar projects which we see contributing about 700MW in the next 2 – 3 years. As part of our total electrification thrust to support the country’s vision 2030, we are also looking to deploy off-grid solar systems to support development in sites that are remote to the grid, whilst we expand the network,” he added.

 

 

He invited manufacturing companies to come and set up manufacturing plants for solar panels as the region has an abundance market for this.

In Zimbabwe, Zesa Enterprises (ZENT), a subsidiary of ZESA Holdings is currently looking for technical partners to form synergies with in the establishment of production lines for, HV and MV cables, overhead bare conductors, insulators, switchgear and transformers.