Encouraging state of green economy investment and development in Zimbabwe

Text by Martin Chemhere

The path towards a green economy in Zimbabwe is becoming clearer with the proliferation of renewable energy projects across the country that answer to the global climate emergency. The situation at the national level is so dire that all stakeholders must consider going the extra mile to protect the country and the planet’s future. The good thing is that the benefits that will accrue from achieving a green economy will be clear and visible. Investment in the green economy has the power to turn around Zimbabwe’s ills such as the provision of jobs and improved and sustainable commercial activities, among others.

While the target of a net zero global atmosphere by 2050 is still a long shot, it is the responsibility of the

Zimbabwean government alongside private sector players and other stakeholders to keep galvanizing for a strong green energy foundation. Recently, Zimbabwe unveiled a renewable energy policy, a welcome gesture that helped to portray the country as a progressive player in upscaling the adoption of alternative sources of energy and therefore setting the tone for the sound building of a green economy.

A green economy success in Zimbabwe hinges on the strong will of the government, hence the renewable energy policy can be described as a boon for sustainable futures for all.

We have already seen in the last few years the emergence of new projects across the country, initiated by local, regional, and international companies.

Among the projects is the proposed 1,000-megawatt floating solar farm on Kariba Dam which is the biggest green energy project in Zimbabwe ever. Managed by the Chinese, it is expected to have a huge impact on Zimbabwe’s efforts to transition from fossil fuels to renewable sources. China Energy Engineering Corp is behind the Kariba Dam initiative.

Outside Harare in Nyabira is another project where Centragrid Energy Systems Africa PV solar power plant is being increased from 2.5 MW to 25 MW. The $21.5 million investment is spearheaded by African financial services powerhouse Old Mutual, through its Old Mutual Investment Group Zimbabwe. Centragrid Private Limited, an independent power producer (IPP) is the developer and operator of the Nyabira solar power plant. The solar plant further attests to the will of local companies to respond to the government’s call for an all-inclusive push for green energy sustainability.

Another project involves Total Eren, in a venture with Chariot, who will develop, finance, construct and operate a 30 MWp solar photovoltaic (PV) project in Mashonaland West, generating clean energy for Karo Platinum Mine.

The several reasons why Zimbabwe needs a green energy revolution include the need to provide solutions to perennial power shortages as a result of redundant coal power stations, and an overloaded national grid. Commercial activities are also being curtailed due to constant blackouts.

As a developing country, Zimbabwe has been courting the buy-in from global development partners as it looks for solutions that will pull it out of the current and ongoing electricity deficit. This makes the current state of the green economy investment and development very encouraging.