Online Reporter
Chronicle Reporter
ZIMBABWE’S energy sector is set to receive a boost following the approval of the new Zimbabwe Renewable Energy Procurement Technical Assistance Project supported by the World Bank Group.
Financed to the tune of US$1,5 million, the grant has been availed through the Sustainable Renewables Risk Mitigation Initiative (SRMI) under the Energy Sector Management Assistance Programme (ESMAP).
This marks a significant step in advancing renewable energy in Zimbabwe and private sector participation in the power generation sector, said the World Bank Group in a latest statement.
It noted that the project will support the Government to advance the competitive procurement of Independent Power Producers (IPPs) to finance and operate solar projects in Zimbabwe by helping establish and operationalize a robust and transparent framework that encourages private sector investment in renewable energy.
As part of the project’s rollout, at least two solar photovoltaic sites with a combined capacity of 140 megawatts will be tendered to pilot test and refine the new framework.
Additionally, the project would include capacity building activities to equip Government officials with the necessary skills and knowledge to effectively manage procurement processes for IPPs. “This technical assistance marks an important step forward for our energy sector,” reads the statement, quoting Dr Gloria Magombo, Permanent Secretary for the Ministry of Energy and Power Development.
“By enhancing our competitive procurement systems, it will support increased private investment and accelerate the delivery of sustainable, affordable power to our people.”
The project is fully aligned with Zimbabwe’s National Energy Compact under the ‘Mission 300’, reinforcing the country’s efforts to expand renewable energy, reduce greenhouse gas emissions, and achieve universal energy access by 2030.
It is also expected to help scale up successful pilots, introduce new technologies, strengthen risk management, and build the institutional capacity required to ensure long-term sustainability in the energy sector.
“We are committed to working closely with the government to create the conditions for a resilient and competitive energy market,” said Eneida Fernandes, World Bank Group country manager for Zimbabwe.
“This initiative will help attract quality investors and deliver renewable energy solutions that drive economic growth and improve people’s lives.”
