Harare, Zimbabwe: Private Infrastructure Development Group (PIDG) company, InfraCo Africa, has signed an agreement with Energywise Equipment (Pvt) Ltd (Energywise) and Impala Power Company Ltd (Impala), investing US$1.5m to progress development of the 30MWac Vungu Solar project in Zimbabwe’s Midlands Province. Vungu Solar is poised to become Zimbabwe''s first internationally project financed solar Independent Power Producer (IPP).
InfraCo Africa''s Head of Business Development, Omar Jabri, said, "We are proud to be working with local developer, Energywise, and the team at Impala to progress this pioneering project which aligns with PIDG''s commitment to improving energy production and access in countries with access gaps. Vungu Solar will deliver 30MWac of additional clean power to Zimbabwe''s national grid, promoting sustainable economic development without jeopardising the country''s climate goals. By piloting the government''s standardised project documentation, Vungu Solar also has the potential to transform the Zimbabwean energy market by unlocking further private sector finance for solar IPPs in the future."
Vungu Solar was selected by the Government of Zimbabwe as its preferred bidder in a national pilot programme designed to develop a suite of standardised documentation to be used by solar IPPs in the country. With support from the Africa Legal Support Facility, the Ministry of Energy and Power Development prepared a standardised Power Purchase Agreement (PPA), Government Project Support Agreement, and central bank undertaking, the details of which are being negotiated with Vungu Solar.
Culven Chipfumbu, Director, Energywise Equipment said, "The solar power plant will produce 30MWac of electricity which is equivalent to carbon equivalent emission savings of c.75,000 tonnes per annum, a significant contribution to Zimbabwe''s Intended Nationally Determined Contributions to the reduction of carbon emissions. Vungu Solar intends to be gender sensitive and disability inclusive in its staff recruitment plan."
Managing Director of Impala Power, Paul Webb, added, "As well as contributing directly to the vital expansion of power generation in Zimbabwe, we hope that Vungu Solar will pave the way for the international financing of all renewable energy projects in the Ministry of Energy''s project pipeline. By ensuring the availability of clean electric power to households and industry, this would provide a massive boost to Zimbabwe''s socio-economic development."
The project will contribute towards delivery of SDG 7 – Access to affordable clean energy – and SDG 13 on climate action.
Having advanced negotiations with Zimbabwe Electricity Transmission and Distribution Company around a bankable 25-year PPA, Vungu Solar is expected to pilot the use of the country''s new standardised documentation. It is anticipated that the pilot will enable the government to attract future private sector investment to grow the country''s renewable energy sector.
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Vungu Solar will add 30MWac of new, renewable energy to the Zimbabwean grid, supporting efforts to meet growing demand for clean energy and displacing diesel back up generation.
Harare, Zimbabwe: ARE Member InfraCo Africa, has signed an agreement with Energywise Equipment (Pvt) Ltd (Energywise) and Impala Power Company Ltd (Impala), investing USD 1.5m to progress development of the 30 MWac Vungu Solar project in Zimbabwe''s Midlands Province. Vungu Solar is poised to become Zimbabwe''s first internationally project financed solar Independent Power Producer (IPP).
InfraCo Africa''s Head of Business Development, Omar Jabri, said, "We are proud to be working with local developer, Energywise, and the team at Impala to progress this pioneering project which aligns with PIDG''s commitment to improving energy production and access in countries with access gaps. Vungu Solar will deliver 30 MWac of additional clean power to Zimbabwe''s national grid, promoting sustainable economic development without jeopardising the country''s climate goals. By piloting the government''s standardised project documentation, Vungu Solar also has the potential to transform the Zimbabwean energy market by unlocking further private sector finance for solar IPPs in the future."
Vungu Solar was selected by the Government of Zimbabwe as its preferred bidder in a national pilot programme designed to develop a suite of standardised documentation to be used by solar IPPs in the country. With support from the Africa Legal Support Facility, the Ministry of Energy and Power Development prepared a standardised Power Purchase Agreement (PPA), Government Project Support Agreement, and central bank undertaking, the details of which are being negotiated with Vungu Solar.
Culven Chipfumbu, Director, Energywise Equipment said, "The solar power plant will produce 30MWac of electricity which is equivalent to carbon equivalent emission savings of c.75,000 tonnes per annum, a significant contribution to Zimbabwe''s Intended Nationally Determined Contributions to the reduction of carbon emissions. Vungu Solar intends to be gender sensitive and disability inclusive in its staff recruitment plan."
Managing Director of Impala Power, Paul Webb, added, "As well as contributing directly to the vital expansion of power generation in Zimbabwe, we hope that Vungu Solar will pave the way for the international financing of all renewable energy projects in the Ministry of Energy''s project pipeline. By ensuring the availability of clean electric power to households and industry, this would provide a massive boost to Zimbabwe''s socio-economic development."
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In a landmark move, the Private Infrastructure Development Group (PIDG) company, InfraCo Africa, has signed an agreement with Energywise Equipment (Pvt) Ltd (Energywise) and Impala Power Company Ltd (Impala) to invest US$1.5 million in the development of the 30MWac Vungu Solar project in Zimbabwe''s Midlands Province. This project is set to become Zimbabwe''s first internationally project financed solar Independent Power Producer (IPP).
Omar Jabri, Head of Business Development at InfraCo Africa, commented, "We are proud to be working with local developer Energywise and the team at Impala to progress this pioneering project. Vungu Solar aligns with PIDG''s commitment to improving energy production and access in countries with energy access gaps. It will deliver 30MWac of additional clean power to Zimbabwe''s national grid, promoting sustainable economic development without compromising the country''s climate goals. By piloting the government''s standardized project documentation, Vungu Solar also has the potential to transform Zimbabwe’s energy market by unlocking further private sector finance for solar IPPs in the future."
The Government of Zimbabwe selected Vungu Solar as its preferred bidder in a national pilot program aimed at developing standardized documentation for solar IPPs. With support from the Africa Legal Support Facility, the Ministry of Energy and Power Development prepared a standardized Power Purchase Agreement (PPA), Government Project Support Agreement, and central bank undertaking, which are currently being negotiated with Vungu Solar.
Culven Chipfumbu, Director of Energywise Equipment, stated, "The solar power plant will produce 30MWac of electricity, equivalent to carbon emission savings of approximately 75,000 tonnes per annum, significantly contributing to Zimbabwe''s Intended Nationally Determined Contributions to carbon emission reduction. Vungu Solar intends to be gender-sensitive and disability-inclusive in its staff recruitment plan."
Paul Webb, Managing Director of Impala Power, added, "In addition to directly contributing to the vital expansion of power generation in Zimbabwe, we hope that Vungu Solar will pave the way for the international financing of all renewable energy projects in the Ministry of Energy''s project pipeline. Ensuring the availability of clean electric power to households and industry would provide a massive boost to Zimbabwe''s socio-economic development."
The Vungu Solar project aims to contribute to the achievement of Sustainable Development Goal 7 (Access to Affordable Clean Energy) and Sustainable Development Goal 13 (Climate Action).
Having advanced negotiations with Zimbabwe Electricity Transmission and Distribution Company around a bankable 25-year PPA, Vungu Solar is expected to pilot the use of the country''s new standardized documentation. It is anticipated that this pilot will enable the government to attract future private sector investment to grow Zimbabwe''s renewable energy sector.
Zimbabwe has an electrification rate of 49%, with the majority of grid-connected customers being concentrated in urban areas. With growing demand from industry and domestic consumers, the gap between energy supply and demand is growing. The country''s installed generation is largely reliant upon hydro and coal. The Government of Zimbabwe (GoZ) is keen to diversify the country''s energy mix and to attract international project finance and expertise to the country''s renewable energy sector.
InfraCo Africa has partnered with local developer, Energywise Equipment (Pvt) Ltd (Energywise) and Impala Power Company Ltd (Impala) to develop Zimbabwe''s first internationally project financed solar Independent Power Producer (IPP). Located in Midlands Province, Vungu Solar will add 30MWac of new, renewable energy to the Zimbabwean grid, supporting efforts to meet growing demand for clean energy and displacing diesel back up generation for homes and businesses. The project is also well positioned as part of the strategic corridor for the Southern Africa Power Pool (SAPP).
Vungu Solar was selected by the Government of Zimbabwe as its preferred bidder in a national pilot programme designed to develop a suite of standardised documentation to be used by future solar IPPs in the country. With support from the Africa Legal Support Facility, the Ministry of Energy and Power Development prepared a standardised Power Purchase Agreement, Government Project Support Agreement, and central bank undertaking, the details of which have now been negotiated with Vungu Solar.
As lead developer on the project, InfraCo Africa brings its experience of structuring bankable IPPs and raising project finance in frontier markets as well as expertise in developing projects to international health, safety, environmental, social, and business integrity standards.
It is anticipated that, by piloting the viability of Zimbabwe''s new standardised documentation for solar IPPs, Vungu Solar will not only deliver much-needed renewable energy but will enable the country to attract further private sector investment into its growing renewable energy sector.
Being developed by InfraCo Africa, Energywise and Impala.
InfraCo Africa, a Private Infrastructure Development Group (PIDG) company, has made a significant investment in pioneering Zimbabwe’s first project financed solar Independent Power Producer (IPP). The US$1.5 million investment will go towards the development of the 30MWac Vungu Solar project in Zimbabwe’s Midlands Province. This project marks a crucial step towards improving energy production and access in a country with energy access gaps.
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