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Sunday, July 14, 2024

Chinese-based electricity company lines up power generation projects in Zimbabwe

Story by Stanley James, Business Editor

A Chinese electricity company, Shandong Dingneng New Energy, is lining up power projects in Zimbabwe at a combined generation capacity of at least 600 megawatts.

The company’s officials are in Zimbabwe where they are engaging authorities on the available opportunities in the energy sector.

Their visit is a follow-up to a Zimbabwean tour of duty in China last year where a series of meetings were held on power supply chains across the country.

After meeting officials from ZESA Holdings and regulatory authorities this Monday, the Chinese company expressed commitment to building renewable and non-renewable power plants in Zimbabwe.

“We have had powerful discussions with the people from Zimbabwe, indeed we are on the journey to set up projects within the country subject to finalisation of talks as well as a due diligence that is being carried out,” said Shandong Dingneng New Energy Co Ltd deputy chairperson, Ms Liu Ziqi.

The Minister of Energy and Power Development, Honourable Edgar Moyo described the visit by the Chinese delegation as a vote of confidence on Zimbabwe as an attractive investment destination.

“Remember earlier this year we were in China, so their visit is an indication of how our engagements there are bearing fruit, they are on a fact-finding mission so it is an opportunity for them to assess the prospects of setting up projects in the country it is, however, our hope that the visit will translate into a reality and this is also a reflection of investor confidence within the country.”

A report from the Zimbabwe Investment and Development Agency indicates that China is the main investor in Zimbabwe, while energy projects are dominating inquiries by local and foreign business people.

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