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Zimbabwe Licenses 10 More Independent Power Producers, State Media Reports

© AP Photo / ARMANDO FRANCAThe flag of Zimbabwe blows in the wind
The flag of Zimbabwe blows in the wind - Sputnik Africa, 1920, 04.03.2024
Zimbabwe is actively developing its energy sector with a focus on renewable energy. Last week, state media The Herald revealed that the country is to launch a Renewable Energy Fund with initial investment of $45 million.
Zimbabwe licensed 10 more independent power producers (IPP), which are to start generating 271MW of electricity in 12-24 months, state media The Herald reported.
The licenses were issued under the Government project support agreement, which now involves almost 40 private license holders. This is a standardized implementation agreement, aimed at ensuring bankability of investments in the renewable energy field, the media noted.
To be issued with the support agreement, the IPP must be building its power station, be in the process of launching the construction, or at least provide proof of having the land and the finance required, the outlet revealed.
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The country's total power output reached 1,538MW as of last Friday, with Hwange Thermal Station producing 914MW, Kariba Hydro generating 563MW, and IPPs contributing 61MW, according to the report.
The addition of newly licensed IPPs is projected to increase domestic power generation needed to support economic growth.
Amid the country's efforts to develop its energy sector, last week, it was announced that Zimbabwe is set to establish a Renewable Energy Fund with an initial investment of $45 million.