TANAKA FETINANDI
Zimbabwe, reeling from a severe power crisis that has crippled business across different sectors in the country, is hunting for investments in the energy sector and is engaging several Chinese firms to find a lasting solution to the challenges.
A Zimbabwean delegation led by Energy and Power Development Minister Edgar Moyo and includes power utility, ZESA, executive chairman Dr Sydney Gata and their teams is in China where they have engaged prospective investors willing to invest in the energy sector.
The Zimbabwean team visited Shanghai to interface and engage potential engineering procurement, construction and funding companies in order to domesticate availability of investment materials and equipment for Zimbabwe’s energy sector in line with Vision 2030.
Moyo said the government has come up with friendly policies for investment in the sector adding he was humbled with the confidence Chinese firms have shown in Zimbabwe.
“Zimbabwe is open for business and we look up to your collaboration in technology transfer and investments,” Moyo said.
Moyo and his team toured and met several companies in the renewable energy sector and discussed possible areas of cooperation in line with the national development strategy.
He met a multi diversified delegation from the Chinese business community led by Zhao Baogang the Vice Mayor of Weihai who once stayed in Zimbabwe for 9 years.
Baogang said he was confident of Zimbabwe’s capacity for investment in energy due to the favourable climate.
“We have a long-standing relationship with Zimbabwe and we want to find ways to partner. We have a very strong energy industry ranging from thermal, renewable and nuclear energy. We have a strong presence in the international market and we have a global vision. Zimbabwe is one of our most important partners as we have a very good foundation for co-operation,” he said.
Chairman of Shandong Dingneng, Liu Lining said : “Zimbabwe is a very important nation in SADC and has abundant resources and the growing economy has been increasing electricity demand. We are keen to initiate a cooperation with Zimbabwe and contribute to industrial development by introducing China’s capabilities.”
“Your abundant solar resources make the development of solar energy a logical step in line with societal development trends. It positions Zimbabwean products for green certification thereby enhancing international competitiveness.”
“Our proposed investment areas will be to explore for the possibility of construction of solar plants, wind power plants and a clean solar power plant in Matabeleland North.”
Energy security is targeted to end load-shedding and power imports then usher the genesis of power exports to the Southern African Power Pool market.
ZESA is supposed to supply power to over 3.8mn households in Zimbabwe but is currently satisfying 900 000 households.
Speaking from China, Gata said the unprecedented growth in Zimbabwe’s economy has led to high demand in electricity hence the need for investment in the sector.
“We have very acute capacity shortages in our electricity supply sector in the country owing to the unprecedented growth in the economy following years of sanctions and various challenges,” he said.
“Our economy is growing especially in the mining, agriculture and industrial smelting sectors which are very energy intensive. In addition to the shortage, we are expecting new investments to give us and by 2025 to reach 3000MW. We are indeed open to investment in energy.”
