Staff Writer
The Infrastructure Development Bank of Zimbabwe (IDBZ) says it is prioritising renewable energy projects in response to the national call for sustainable energy generation.
The development financial institution’s call aligns with Zimbabwe’s Nationally Determined Contributions (NDCs), which outline the country’s commitments to reducing greenhouse gas emissions and mitigating climate change.
The IDBZ’s focus on renewables is intended to contribute to a more sustainable energy future for Zimbabwe.
“Working with other government departments and agencies, the bank also supports players in the infrastructure value chain, including in such critical areas such as irrigation development. The IDBZ further responds to the national call for sustainable energy generation, guided by the NDCs, through the development of renewable energy projects,” IDBZ chairman Kupukile Mlambo said in a statement accompanying financials.
Among the IDBZ’s projects booked to the bank’s projects pipeline are the Nyazura 10 MW solar plant for US$10 million and the Ravensus Solar project for US$49 million.
During the year ended December 31, 2023, IDBZ managed to disburse US$3 125 for the Nyazura solar project grid impact assessment and US$65 627 for the Gutu solar project bankable feasibility and Environmental and Social Impact Assessment (ESIA) study consultants fees and disbursements, EMA and ESIA review fees.