Are Zimbabwe's biggest miners seeking $182 million for solar power?

Some of Zimbabwe’s biggest miners are seeking $182 million to develop 200 megawatts of locally-generated solar power, according to the head of the renewables company responsible for the projects. A Solar panel at the Weesow-Willmersdorf solar park, operated by EnBW Energie Baden-Wrttemberg AG, in Werneuchen, Germany, on Tuesday, Aug. 2, 2022.

Can Zimbabwe become the voice of solar energy?

We aspire to become the voice of solar energy. Zimbabwe needs about 2,200 megawatts of electricity at peak consumption but generates just bel 1,300 megawatts, while relying on imports to fill the gap. Due to ageing equipment, power generation often disrupted following breakdowns. In most cases, the generators operate below capacity.

Does Zimbabwe rely on imported power to mine chromium ores?

Several miners rely on imported power from neighboring Mozambique to operate. Zimbabwe boasts the second-largest platinum deposit and high-grade chromium ores in the world, and mining contributes about 12% to the country’s gross domestic product and makes up around 80% of its exports, according to the US International Trade Administration.

What is Zimbabwe's financing structure?

“The financing structure will consist of about 70% debt and 30% equity.” Zimbabwe faces an energy shortfall that often triggers the state-owned power company to implement rolling blackouts to balance supply and demand. The worst drought in four decades has compounded the crisis, cutting supplies from hydropower plants.