Zimbabwe Seeks More Chinese Investment In Energy Sector Amid Electricity Crisis
The Zimbabwean government has urged the Chinese business community to invest in the country’s energy sector, particularly amidst ongoing power supply challenges.
At the Zimbabwe-China Business Forum held in Harare on Wednesday, November 20, Minister of Energy and Power Development Edgar Moyo said that Zimbabwe’s energy sector offers immense potential for further Chinese investments, particularly under the Belt and Road Initiative (BRI).
In a speech delivered on his behalf during the one-day forum, which drew around 100 attendees, Moyo said:
The BRI initiative offers a unique platform for financing and implementing projects that contribute to sustainable development. We view Zimbabwe’s energy sector as a key area of focus under the BRI.
Moyo stressed China’s importance in shaping Zimbabwe’s energy future and praised the Asian country for its unwavering support and collaboration in power and energy development over the past years.
He said Zimbabwe requires investments particularly in the development of renewable energy, as well as power storage, transmission, and distribution infrastructure. Said Moyo:
Zimbabwe is blessed with abundant sunlight, making solar energy a viable option for scaling up our energy supply.
We invite Chinese companies with expertise in renewable energy to partner with us in developing large-scale solar farms, as well as small-scale projects for local communities and industries…
I invite the Chinese business community to take full advantage of the opportunities in Zimbabwe’s energy sector.
Zimbabwe is currently experiencing a deficit of approximately 800 MW in local generation capacity, primarily due to declining water levels at the Kariba Power Station, the country’s main hydropower facility.
The electricity crisis has been exacerbated by an El Niño-induced drought. As a result of the reduced power generation, the country has faced ongoing nationwide power cuts since August.
More: Pindula News
