Energy Minister Moyo Encourages U.S. Private Sector To Invest In Zimbabwe's Coal Sector
Energy and Power Development Minister July Moyo has said Zimbabwe is open to welcoming investment in coal production from the United States, following Washington’s reversal of its long-standing opposition to fossil fuels.
The U.S. recently shifted its energy policy, seeking partnerships with African nations to boost coal production.
Speaking at the high-level Powering Africa Summit in Washington on Friday, Moyo encouraged the U.S. private sector to invest directly in Zimbabwe’s coal industry. He said:
… our plea, again to the United States as Zimbabwe: release your private sector so that they can invest directly into Zimbabwe, and we have created an environment where they will earn money because their investment will be guaranteed.
Moyo said Zimbabwe’s abundant coal and coalbed methane resources could also play a major role in supporting the agriculture industry. He said:
Power generation could be one aspect. We are an agricultural country, we want our fertilisers, so (with) any investment in that coalbed methane gas, we could end up doing our fertilisers, which we are importing right now, and as a country that believes very strongly in agriculture, that would be a good investment.
So, coal with methane gas is abundant in most areas in Zimbabwe, in the north and in the south of Zimbabwe, like the Chiredzi area.
He said Zimbabwe has opened its doors to independent power producers, allowing companies to use thermal power for their operations and contribute any surplus to the national grid.
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