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Joseph Madzimure Senior Reporter
Investors should take advantage of the immense opportunities opened by the just-launched renewable energy and biofuels policies and Zimbabwe’s need for large increases in clean energy resources as it swiftly develops, Energy and Power Development Minister Fortune Chasi said yesterday.
President Mnangagwa on Thursday launched two policies, the National Renewable Energy and Biofuels policies of Zimbabwe to promote optimal supply and use of energy for socio-economic development.
Minister Chasi said investors should make use of the two policies to invest in renewable energy.
“Increased investments are welcome in the renewable energy sub-sector as we embrace the vast opportunities offered by renewable energy technologies towards an Upper Middle Income Economy by 2030.
“Zimbabwe at present is mainly dependent on coal, petroleum, hydroelectric power and fuel-wood to meet its energy needs,” said the Minister.
He said, the country is dependent on petroleum and power imports due to lack of petroleum resources and ageing electricity infrastructure.
“The shortage of electricity is compounded by the fact that little investment has occurred in the sector in the past 25 years prior to the year 2014.
“Due to the frequent power shortages, business has resorted to purchasing and operating diesel generators as an alternative to grid power. Diesel generators are expensive to operate and pollute the environment.
“More than 60 percent of the population still rely on solid biomass fuel for thermal needs and have no access to clean energy sources. Renewable energy sources will help address these problems,” he said.
Zimbabwe has huge and diversified renewable energy potential, which needs to be harnessed effectively to create a sustainable energy portfolio in the country.
Minister Chasi said renewable energy targeted at least 1 575 megawatts from grid-connected solar by 2030, with at least 250 000 solar geysers installed.
He added that the African Development Bank was working on a competitive bidding framework for solar, wind and hydro projects, while licensing timelines for renewables and licence fees are being reviewed.
Zimbabwe has vast renewable energy resources like solar, hydro, biomass and to a limited extent, wind and geothermal, that to date has largely remained unexploited. There is an opportunity to exploit in the renewable energy sector to meet Zimbabwe’s growing energy demand, achieve universal energy access and secure the country’s long term energy needs in a sustainable manner.
He said that the policies addressed investment issues and provided a policy framework that guides incentives in the sector.
He said 68 percent of the majority Zimbabweans live in the rural areas hence the policy promotes rural development and improved livelihoods for the rural populace.
“The move is in line with the national goals of the Transitional Stabilisation Programme 2018-2020 and vision 2030. This vision is anchored on re-engagement with the global community, private sector led rapid growth and development as well as enhanced domestic and foreign investment as encapsulated by the mantra Zimbabwe is open for business,” said Minister Chasi.
Government is seeking to prioritise the exploitation of renewable energy and a guideline on its structure. The main objectives of the launch were to present both policies to key stakeholders, forge stronger relationships, showcase renewable energy companies as well as to present the roadmap for strategies.
Online Reporter