Story by Owen Mandovha
THE high stakes Zimbabwe – Zambia Energy Summit to be held in Victoria Falls next week is expected to accelerate investment and innovation in energy generation in the face of diminishing water levels in Kariba Dam, which is a primary source of electricity for both countries.
Summit sponsor, the Zimbabwe Energy Regulatory Authority (ZERA) says there is an untapped capacity in new energy projects to the tune of 7 000 megawatts and stakeholders will use the platform to act on implementing new energy projects.
“Zimbabwe and Zambia share Kariba Dam for power and both are faced with outages due to low water levels. The summit is aimed at bringing policymakers, international organisations and investors, so that we can upscale the accelerated investment into energy generation,” ZERA’s board chairperson, Dr David Madzikanda.
The summit will also seek to plug financing gaps which are slowing down the implementation of new projects.
“Financing remains a big drawback for effective project financing of independent projects with an outstanding 7000 megawatts capacity that requires investment. So, we are seeking to engage with financiers on the best ways to finance projects that meet the goals of these power producers,” added Dr Madzikanda.
Zambia is facing serious power outages of more than 17 hours per day, while in Zimbabwe, the new Hwange Power Station 7 and 8 have helped minimise load shedding in the work of reduced generation capacity at the Kariba Hydro Electric Power Station.
