Staff Writer Old Mutual Zimbabwe has reaffirmed its commitment to sustainability, with a focus on financing green and renewable energy projects. The diversified financial services group said it is also proactively supporting innovative businesses working to reduce greenhouse gas emissions and carbon footprints. The group’s strategic focus aligns with the growing global emphasis on sustainability…
Staff Writer The Facility for Energy Inclusion (FEI) has signed agreements to provide a US$10 million facility to finance Cicada Solar Limited, a leading commercial and industrial player in Zimbabwe. The investment will bolster the country’s renewable energy sector and support Cicada Solar’s growth. The funding, in the form of long-term senior debt, will allow…
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…
Staff Writer Zimbabwe has launched a US$45 million Renewable Energy Fund, aiming to accelerate the country’s transition to renewable energy sources and increase access to electricity in off-grid areas. The Renewable Energy Fund is a result of collaboration between various ministries in government, UN organisations including UNESCO, UNDP, UN Women among others, and the private…
Staff Writer Proplastics has announced the successful installation and commissioning of a new solar power plant at its facility. In its half year financials, the group said the plant is expected to generate approximately 50,000 kilowatt hours (kWh) of electricity per month, significantly reducing the company’s reliance on grid power and diesel generators. The implementation…
Staff Writer Grid Africa, a leading renewable energy solutions provider, has announced a major project to develop 72 megawatts (MW) of power for several mines in Zimbabwe. The initiative is set to transform the energy landscape of the country’s mining sector, saving the participating mines over US$9.2 million annually and significantly decrease their reliance on…
Staff Writer The country’s power utility, Zesa Holdings, says it plans to significantly boost its renewable energy capacity and battery storage infrastructure to address Zimbabwe’s chronic power shortages. Zesa executive chairman Sydney Gata said the utility has identified several sites for solar power deployment and is currently conducting feasibility studies to ensure their bankability. “Zesa…
Staff Writer President Emmerson Mnangagwa says two new solar plants totaling 250 megawatts (MW) are currently being developed. The clean energy boost will help the country meet growing energy demands while reducing carbon emissions. Speaking in the capital, Mnangagwa said the role of the energy and power sector in socio-economic development through industrialisation cannot be…
Staff Writer Cement maker PPC says a solar project for its Zimbabwe unit is in the financial close stage, with lenders reviewing the project and conducting due diligence. The cement maker completed a solar plant tendering process for its Colleen Bawn and Bulawayo plants with the project site cleared ahead of construction. PPC’s planned solar…
Staff Writer Ariston Holdings (Ariston) says it continued to benefit from the positive impact of installing a solar energy plant at Southdown Estate for the quarter to June 30, 2024. The agro-industrial concern installed a solar plant at the Southdown Estate to offset power outages in July 2023. The country has been experiencing erratic power…
