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Tuesday, May 21, 2024

UAE investors keen on Energy Investment in Zimbabwe

Story by Memory Chamisa

THE Government has signed a tripartite agreement to establish a cutting-edge Solar Power Plant that will not only bolster the national power generation but also reduce the carbon footprint.

It has been a productive COP28 for the Energy Sector in the United Arab Emirates as quite a number of engagements have been pursued and agreements put on paper.

This Thursday, national power utility, ZESA Holdings signed an agreement with AMEA Power, a Dubai-based company, and Greenco Power Services Limited that will see AMEA Power contributing 30 MegaWatts to the national grid.

This becomes the fourth agreement signed this week at the Zimbabwean Pavilion.

Permanent Secretary for Energy, Engineer Gloria Magombo said the development is part of the many initiatives by the government to increase electricity generation in the country.

“This COP has been fruitful for us, we have managed to secure investments, unlike the past COP. The deal we have just signed with AMEA will see us setting up a plant that will produce 30 megawatts of power to the national grid.

“The other is on the Batoka hydropower. Deploying more clean energy will mean using more land, and community engagement will be essential to progress. Deploying more clean energy will mean using more land, and community engagement will be essential to progress.”

The chairperson of AMEA, Mr Hussain Alnowais reiterated their continued support to Zimbabwe on green energy projects.

“Africa has great people and talent and therefore we are committed to complement this by investing more in the continent to enable socio-economic development.

“As the conference has progressed some breakthroughs have been witnessed with more than 120 countries committing to triple global renewables capacity by the end of the decade, while rich states have promised hundreds of millions of dollars to compensate poorer nations for the effects of climate change. Some of the biggest companies have also signed up to cut emissions from their own operations.”

Greenco Power Services Limited comes in as the guarantor in the agreement

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