A British company is ready to set up a £30 million solar plant in the country, British Ambassador to Zimbabwe Ms Melanie Robinson said yesterday.
The investment by the British company is an indication that Zimbabwe has a conducive investment climate, which the Second Republic has been working on improving since 2017.
Critically, the investment signals that the re-engagement drive is paying dividends.
Said Ms Robinson: “There is a British company that wants to invest £30 million in renewable energy, in solar in Zimbabwe.”
The company is reportedly waiting for a few things, including a power purchase agreement.
Ms Robinson was speaking after paying a courtesy call on the Minister of State for Midlands Provincial Affairs and Devolution, Larry Mavima.
She said the winning tender to work with the British investor will be chosen through an auction.
“We also need to get the policy framework right and investments will come,” said Ms Robinson. “That is the advice I am giving you.”
Ms Robinson said she was worried that there had been a surge in the demand of other non-renewable energy like coal at the expense of renewable energy.
“The UK is hosting the COPE 26 later this year to try to avoid the worst impact on climate change,” she said.
“Climate change is also being felt in Zimbabwe even though we know that most of the pollution is coming from the developed world.
“President Mnangagwa committed a 40 percent reduction in waste. We need investment in renewable energy.”
Minister Mavima said the land for renewable energy plants was available in the Midlands Province and the country at large.
“In Lower Gweru, there will be a 100MW plant and also at Munyati and we have other projects that will be taking shape under local authorities,” he said.
“The land we have for FDIs and of course IPPs, power purchase agreements should be there.” Herald