ELECTRICITY production by Independent Power Producers (IPPs) saw a significant boost in the first quarter of 2024, jumping 10,47 percent from the same period last year.
Yet, despite this growth, IPPs still only contribute about 4,81 percent to the country’s total power output, according to a recent report by the Reserve Bank of Zimbabwe. This is premium content. Subscribe to read article.
This comes as Zimbabwe pushes for greater energy independence, actively developing its energy sector with a particular focus on renewables.
The country’s total electricity output surged 67,57 percent in the first quarter, mainly due to the addition of new units at the Hwange Power Station.
However, hydropower’s traditional dominance has waned due to recent droughts and increased investment in coal.
The government recently announced tariff guarantees for 10 IPPs, potentially adding 271MW of renewable energy to the grid. These projects include six solar installations across the country. A US$45 million fund, partly backed by the UN, has also been approved to bolster renewable energy solutions.
“IPPs contributed about 4,81 percent to total power output in the first quarter of 2024,” the Reserve Bank of Zimbabwe stated in its report.
This push for renewable energy is crucial for a country where only 49 percent of the population had access to power in 2021, according to World Bank data. The goal is to reduce reliance on energy imports and address the frequent power outages plaguing the nation.
Zimbabwe’s renewable energy policy aims to encourage investment in this sector, recommending National Project Status for all renewable energy projects and urging producers to seek Prescribed Asset Status to unlock further funding.
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