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Zim ranked among top 5 regional energy project destinations

Zim ranked among top 5 regional energy project destinations

Story by Stanley James, Business Editor

ZIMBABWE is ranked among the top five regional economies that have invested in new power projects to sustain industry and household requirements.

Massive energy projects in the renewable and non-renewable sectors have seen the Southern African Power Pool (SAAP) commending the Zimbabwean government for creating a favourable business climate toward mitigating power challenges.

The 12-member institution also reveals that four other economies that have scaled up power projects in the past two years include South Africa, Tanzania, Mozambique and Angola.

Confirming the latest rankings, SAAP Executive Director Mr Stephen Dihwa said Zimbabwe’s success story in energy investments has attracted the interest of other regional economies.

“Indeed it is there for all to see that Zimbabwe has witnessed a rise in terms of overall energy portfolios characterised by the commissioning of new power stations furthermore the increased uptake of non-renewable projects has also been an added advantage for Zimbabwe in diversifying energy sources while the completion of the US$1,5 billion Hwange Power station Unit 7 and 8 expansion projects has even excited the region,” he said.

The regional power institution highlights that it will in the future direct its member economies to learn from Zimbabwe’s energy sector investment reforms.

He added, “The energy sector projects are critical in ensuring that the region has sufficient energy therefore what Zimbabwe has done is a lesson for other regional economies to focus on given the risks associated with the instabilities on economies, the negative effects of climate change on hydropower systems, coupled by the ever-rising demand for power in the region, so it is all about identifying the opportunities and how to tap them in translating into reality.”

SAAP, which was created in 1995 is an institution for Southern African electricity utilities that focus on a competitive electricity market, integration of power trading, sharing and network systems and facilitate investments in the energy sector, including mobilising resources for expanding power stations.

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