The Zimbabwean government has agreed to guarantee viable power tariffs to 27 solar projects by independent power producers (IPPs). Developers are set to build 997.9 MW of capacity, with a total investment of around $1 billion.
Zimbabwe has announced a government implementation agreement (GIA) to expedite the commissioning of 27 solar IPP installations. The 1 GW of projects range from 5 MW arrays to 100 MW solar parks and will cost about $1 billion in total.
The government has promised to help make the IPP projects bankable. The GIA includes a project development support agreement, a power purchase agreement, and an agreement with the Reserve Bank of Zimbabwe for guaranteed payments of dividends and foreign loan repayments to external investors and lenders.
The incentives are part of Zimbabwe''s plans to achieve upper middle-income status by 2030, as a diversified, reliable, and affordable electricity mix will be a key factor in achieving that goal, Ncube said. The country aims to generate 1.1 GW of electricity from renewable sources by 2025, but its volatile currency and unattractive tariffs have kept IPP investment at bay.
The announced incentives will be "game changers" for Zimbabwe''s power sector, Mathesha Koko, managing director for South Africa-based IPP Mathesha Energy and a former Eskom CEO, said on Twitter last week.
"We are pleased that the government of Zimbabwe has worked in a very coordinated way to implement the necessary government support agreement that will make the independent power projects in Zimbabwe bankable," he added.
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HARARE – Zimbabwe''s electricity generation sector grapples with ageing infrastructure, environmental challenges, and a lagging renewable energy transition, according to a pro-environmental platform Clean Technica.
With an installed capacity of nearly 3,000 MW, the Zimbabwe Power Company (ZPC) faces significant hurdles, including unreliable thermal plants, water shortages for hydropower, and a sluggish independent power producer (IPP) sector.
ZPC''s main thermal plants, particularly the six coal-fired units at Hwange with a combined capacity of 920 MW, are plagued by frequent breakdowns. Rehabilitation efforts are ongoing to restore these units to full capacity and add new ones, with plans for units 9 and 10. However, smaller coal plants in Harare, Munyati, and Bulawayo, each capable of generating around 80 MW, have been decommissioned as they are no longer economically viable to operate.
Meanwhile, the Kariba Dam hydropower station, traditionally a reliable contributor with a 1,050 MW capacity, is currently generating just 100 MW due to low water levels caused by recurrent droughts. This is the third time in five years that low rainfall has severely impacted the plant''s output, underscoring the growing threat of climate change to the region''s energy security.
Zimbabwe has issued over 100 licenses for renewable energy projects, including solar and wind, yet less than 4% of the country''s electricity is currently generated by IPPs. Financial uncertainty, driven by Zimbabwe''s volatile currency and inflationary pressures over the past two decades, has hindered progress. Developers have struggled to secure financing, particularly for long-term power purchase agreements (PPAs), with a landmark court case recently reinforcing the challenges of operating in Zimbabwe''s currency environment.
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