Zimbabwe’s major energy consumers are seeking $350 million to construct a floating solar power plant. To kick off the project, they have already secured $4.4 million from the African Export-Import Bank (Afreximbank) to fund the feasibility study.
The goal is to strengthen the country’s energy capacity through an innovative solution. The solar plant will be installed on water, using floating technology as an alternative to conventional energy sources.
“We’ve already started the study,” said Eddie Cross, chairman of the Intensive Energy Users Group, in an interview with Bloomberg on Friday (27th). Afreximbank’s financial support marks the first concrete step in the project.
According to Cross, the total investment will be determined based on the study’s findings and the results of future public tenders. For now, the group estimates the cost at $350 million.
“The final investment will depend on the study and the tenders, but we’re asking for $350 million,” he explained, noting that the amount may vary depending on the technical conclusions.
With Afreximbank’s backing, Zimbabwe’s large energy consumers are showing a strong interest in renewable sources. If the feasibility study proves successful, it could attract further financing and boost the country’s energy sector.
Source: DE
