Germany to invest in US$7 million 10 MW solar plant

By ZBC Reporter
GERMANY investors have described Zimbabwe as one of the best investment destinations, pledging to take the lead in the installation of solar plants in a move expected to boost power supplies in the country.
The Germany Investors were speaking after meeting President Emmerson Mnangagwa in Harare this Wednesday.
A group of Germany investors who were in the country scouting for investment opportunities since last week held talks with President Emmerson Mnangagwa this Wednesday and they declared their interest to venture into solar energy.
A 10 megawatt solar power station will be built in Zimbabwe before the end of next year at a cost of US$7 million by a leading German investor in renewable energy, Holtholding Group.
Holtholding Group, which has a presence in 46 countries across the world, has had a team in the country since last week to look at investment opportunities.
Accompanied by Zimbabwe Ambassador to Germany, Ambassador Paul Chikawa, Germany investor, Heinz Luchterhand, told journalists after a closed door meeting with President Mnangagwa that Zimbabwe is a safe investment destination.
“We have identified the solar energy as our area of interest, the country has the best environment conducive for solar energy. To start with will are planning to set a 10 megawatt plant and we will develop more to help alleviate power shortages in country,” said Luchterhand.
Another Germany Investor, Dr Hendrik Holt said Zimbabwe cannot continue importing electricity when the country has vast sunlight for solar power.
“We have been satisfied by the vast opportunities in solar energy so, as a group of energy investors we are ready to come and invest in that area,” he said.
The endorsement by the Germany investors of Zimbabwe as safe investment destination is expected to send a clear message to the international community that Zimbabwe is open for business.