Zimbabwe Seeks More Investment in Energy Sector amid Power Shortages
At the Zimbabwe-China Business Forum held in Harare, Zimbabwe's capital, Minister of Energy and Power Development Edgar Moyo said that the Southern African country's energy sector offers immense potential for further Chinese investments, particularly under the Belt and Road Initiative (BRI).
"The BRI initiative offers a unique platform for financing and implementing projects that contribute to sustainable development. We view Zimbabwe's energy sector as a key area of focus under the BRI," Moyo said in a speech read on his behalf at the forum, which was a one-day event with about 100 people in attendance.
He stressed China's importance in shaping Zimbabwe's energy future and lauded the Asian country for its unwavering support and collaboration in power and energy development over the past years.
According to Moyo, Zimbabwe requires investments particularly in the development of renewable energy, as well as power storage, transmission, and distribution infrastructure.
"Zimbabwe is blessed with abundant sunlight, making solar energy a viable option for scaling up our energy supply. We invite Chinese companies with expertise in renewable energy to partner with us in developing large-scale solar farms, as well as small-scale projects for local communities and industries," Moyo said.
The Zimbabwean government has undertaken reforms including offering various incentives to encourage independent power producers and private sector participation in the renewable energy sector, Moyo said.
"I invite the Chinese business community to take full advantage of the opportunities in Zimbabwe's energy sector," Moyo said, underscoring the urgent need for Zimbabwe to develop climate-resilient energy solutions amid the increasing challenges posed by climate change to the country's power generation.
Zimbabwe currently faces a deficit of up to 400 MW in local generation capacity, largely due to falling water levels at Kariba Power Station, the major hydropower plant, as a result of the El Nino-induced drought.
The reduced power generation has resulted in persistent nationwide power cuts since August.
4155/v
