Staff Writer
Innscor Africa has announced plans to invest in solar power projects across its manufacturing facilities in response to the challenging energy landscape.
The Victoria Falls Stock Exchange-listed diversified firm highlighted the significant impact of the escalating price of power on its operations during the first half ended June 30, 2024.
The group’s half year financial report revealed a substantial increase in operating costs due to the surging energy bills.
“In an effort to ensure more consistent power at rates that support the mass production of low-margin basic commodities, the group will be pursuing various solar power investments across its manufacturing sites in the period ahead,” Innscor’s chairman Addington Chinake said in the group’s financials.
The implementation of solar power solutions is expected to have a positive impact on the group’s bottom line and reduce its environmental footprint.
The group’s decision to prioritise solar energy aligns with the global trend toward renewable energy adoption.
Solar power offers a sustainable and environmentally friendly solution to the energy crisis, while also providing long-term cost savings.
The move to adopt solar power comes at a time when Zimbabwe is grappling with a severe energy crisis, characterized by frequent power outages and load shedding.
The increasing adoption of renewable energy solutions is seen as a crucial step towards addressing the country’s energy challenges and promoting sustainable development.
