Story by Stanley James, Business Editor
ZIMBABWE has outlined a five year energy roadmap that seeks to raise over US$16 billion to sustain power requirements by courting the private sector and development financiers on resource mobilisation.
A National Energy Compact Draft report presented to stakeholders this Wednesday shows that power generation projects will account for over US$11 billion, followed by grid access systems, solar projects and clean cooking facilities.
The move comes on the realisation that the overall access to power by Zimbabweans is hovering at around 60% and needs to be raised to over 90% by 2030 on the back of the ever rising demand for electricity.
The government is therefore upbeat that despite the huge capital outlay, stakeholder commitment will facilitate the success of the energy roadmap in achieving its set aspirations.
“This Draft Document has also been discussed with parliamentarians and the President is aware of our deliberations, the purpose of the engagement today is mainly towards collaborating with all the key stakeholders in trying to come up with the final document, given the magnitude of interest by the development partners including the private sector then it becomes imperative in forging ahead with the entire document in terms of its implementation so indeed we are working with all the relevant stakeholders to ensure success while focusing on long term strategies,” Minister of Energy and Power Development, Honourable July Moyo said.
The World Bank and Regulatory Authorities have pledged commitment to support the energy draft paper by focusing on possible ways to raise funding.
“As the World Bank we are really keen to work with the government on this document, the key thrust is to provide technical and financial support while also leading the way for other development partners to take their course of action, riding on the interest at this forum this gives us confidence that Zimbabweans are serious over the entire issue,” World Bank Zimbabwe, Country Manager, Ms Eneida Fernandes said.
“Investments in the electricity power sector requires private sector participation some of whom are already licenced are more than willing to come on board, the world over is moving to 100% access to electricity by 2030, and Zimbabwe should therefore not lag behind,” Zimbabwe Energy Regulatory Authority chairperson, Dr David Madzikanda said.
Takeaways from the draft document include, Zimbabwe’s commitment to electricity and clean energy systems, renewable energy, low cost electricity systems, Public- Private Sector Partnerships, low carbon energy facilities among others.
The draft document will also be submitted to several authorities for consideration and approval as Zimbabwe seeks long lasting solutions to power challenges.
