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Tinashe Makichi Property Reporter
Global power company, Green Rhino Energy managing director, Joachim Baumgaertner said the investment climate in Zimbabwe remains challenging, but the firm is working closely with debt providers, political risk insurers and investors to make sure the project goes ahead. Green Rhino Energy is a partner in a joint venture partnership in De Green Rhino Energy Private Limited with a Zimbabwean company, De Opper Trading.

The company is spearheading the Marondera based solar power project, which is currently veiled in uncertainty due to failure to secure the critical project implementation agreement from Government.

Mr Baumgaertner told the Herald Business that despite the challenging environment, the power firm will proceed with the project.

“We are currently finalising the local and national agreements to enable us to get the project funded.

“The investment context in Zimbabwe is certainly challenging at the moment. We are working very closely with a number of debt providers, political risk insurers and investors,” said Mr Baumgaertner.

He said project costs have also managed to come down considerably due to advances in the solar industry.

Mr Baumgaertner said the estimated capital for the entire project is $200 million with Phase One costing about $70 million.

The project implementation agreement, which the company is still trying to have, can be secured from the Ministry of Finance and Economic Development and is one of the most critical requirements when implementing capital projects.

A capacity of 50MW is planned for the first phase and the company will upgrade to 100MW going forward.

Green Rhino Energy, are expected to establish the solar photovoltaic power station, which is expected to increase electricity supply on the national grid.

Apart from private players the Zimbabwe Power Company is also in the process of implementing its own solar projects in Gwanda, Matobo and Munyati to ease the country’s energy challenges.

The three proposed solar plants will each generate about 100 megawatts, feeding an additional 300MW into the national grid.

Construction of Gwanda solar photovoltaic power plant will involve the construction of a 15-kilometre 132kV line from the solar plant to the existing Gwanda 132kV substation; a 132kV line bay at the new Gwanda solar plant site; a 132kV line bay at the existing Gwanda 132kV substation, a 20-varb fast response reactor at Gwanda 132kV substation and substation ancillary equipment.

Through increased use of solar, the government hopes to cut residential power usage by 40 percent.

The Zimbabwe Energy Regulatory Authority has managed to licence a number of solar projects to date but there has been little progress thereby forcing the country to rely on Kariba and Hwange and imports as well.