Zimbabwe Proposes Incentives for $1 Billion of Solar Projects

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Researched by Industrial Info Resources (Sugar Land, Texas)--Zimbabwe's finance ministry has proposed incentives to accelerate 1,000 megawatts (MW) of privately owned solar energy projects worth about US$1 billion. The government plans to add 27 solar power projects, with sizes ranging from 5 MW to 100 MW, with a cumulative capacity of 1 gigawatt (GW).

The southern African country is currently experiencing up to 18 hours of power outages daily, after its main Kariba hydropower plant cut electricity generation due to low water levels. To attract more independent power producers (IPPs), the government is guaranteeing viable tariffs, power-purchase agreements, payment of dividends and foreign loan repayments to external investors and lenders.

Industrial Info is tracking 31 capital solar projects in Zimbabwe with a planned capacity of about 2,000 MW. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for a list of detailed project reports.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).