Sunco Power seeks financing for 20 MW solar project in Zimbabwe
Sunco Power Co Pvt Ltd, a Zimbabwe-registered start-up, is looking to obtain financing for a 20 MW solar PV park to be constructed in the south of Zimbabwe.
The company is in the process of obtaining a piece of land (121.4 ha) for the project in Matabeleland province.
Sunco Power plans to obtain a US$22.9 million loan with an interest of around 10% per year to be repaid in 10 years.
Sunco Power expects to finalise a power purchase agreement (PPA) with the Zimbabwe Electricity Supply Authority (ZESA) after it gets permission from the Zimbabwe Energy Regulatory Authority (ZERA).
UK-based Green Rhino Energy is advising Sunco Power on the project.
The project should be implemented in two phases over a period of 10 months.
We announced in October 2015 that Zimbabwe's State Procurement Board (SPB) awarded tenders for solar power projects with a combined output of 300 MW to three firms: Intratrek Zimbabwe (Gwanda project), China's ZTE Corporation (Insukamini project) and China's Number 17 Metallurgical China (Munyati project).
Country news
-
-
October 20, 2015
Sunbird Bioenergy signs agreement for bioethanol plant in Zimbabwe
China New Energy Limited (CNE) has announced that Sunbird Bioenergy Limited, its project partner in Africa, has signed an agreement with the Republic of Zimbabwe to develop a 120 million litre cassava to bioethanol plant in the Machonaland Central Province of the country. Read more -
October 19, 2015
Winners announced for Zimbabwe solar projects
According to sources, Zimbabwe's State Procurement Board (SPB) has finally awarded tenders for solar power projects with a combined output of 300 MW to three firms. Read more -
October 16, 2014
Stanbic Bank to provide US$160m loan for the expansion of the Kariba South hydropower project
Stanbic Bank South Africa will provide an US$160 million loan to Zimbabwe Power Company (ZPC) for the expansion of Kariba South Hydropower Station project. Read more -
October 22, 2014
Standard Bank to loan for Zimbabwe’s hydro project
Zimbabwe Power Company (ZPC) and NamPower, Namibia’s power utility, have signed a US$150 million power purchase agreement to secure finance for the expansion of Kariba South Hydropower Station project. Read more -
May 29, 2015
Norton Rose Fulbright is appointed international legal counsel on South African interconnector project
Norton Rose Fulbright, is advising the Southern African Power Pool (SAPP) on the development of the regional interconnector transmission line between Mozambique, Zimbabwe and South Africa (MoZiSA). Read more
