The consortium of Guarantee Risk Solar Energy (GRSE), eXess Africa, and Bushveld Energy received approval from the Ministry of Energy of Zimbabwe to develop 3 solar projects with a combined installed capacity of 250 MW.
GRSE is a power developer based in Zimbabwe while Bushveld Energy and eXess are firms based in South Africa. The later will carry out EPC and O&M for the projects.
Project financing was already in progress after the feasibility studies were completed. Local governments will hold stakes in Harare and Bulaweyo projects but not for Goromonzi project. The debt financing of the project worth US$300 million is under discussion with both commercial banks and DFIs. The debt/equity ratio is expected at 70:30.
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is negotiating for offtake agreement of 25 years with sponsors
Country updates
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May 03, 2019
Labacorp, Craft Properties to build 900 MW solar project in Zimbabwe
US-based Labacorp Power Company in partnership with local partner Craft Properties (Pvt) Ltd has expressed its interest to build a 900 MW solar photovoltaic farm in Zimbabwe. The companies have...
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January 31, 2019
Sable Chemicals plans 400 MW PV solar project in Zimbabwe
Sable Chemical Industries Limited, an ammonium nitrate fertilizer company based in Zimbabwe, has applied license approval from the Zimbabwe Energy Regulation Authority (ZERA) for the 50...
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October 16, 2018
Soventix to build 22 MWp solar project in Zimbabwe
Soventix South Africa has been awarded the construction of the largest IPP Solar PV project in Zimbabwe. The Harava 22 MWp utility scale project will be developed on 40 hectares of land in the Bw...
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July 25, 2018
Karo Mining Holdings to build 300 MW solar park in Great Dyke, Zimbabwe
Karo Mining Holdings to build 300 MW solar park to power the platinum group metals mining complex in Great Dyke, Zimbabwe. Initially, the plan was to develop a 600 MW thermal facility, but it wa...
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November 06, 2017
Zimbabwe Power Company has secured a license from the Zimbabwe Energy Regulatory Authority (ZERA) to proceed with the construction of the project
Zimbabwe Power Company has secured a license from the Zimbabwe Energy Regulatory Authority (ZERA) to proceed with the construction of the project. Construction of the plant will be managed by Chinese...
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