April 20, 2021 Read More →

RioZim moves forward with Zimbabwe solar project; funding woes stall coal plant

The Herald:

Diversified resources firm, RioZim, says it is in the process of selecting an EPC (engineering, procurement and construction) contractor for its 178 megawatt (MW) solar project.

According to RioZim chairman Rashid Beebeejaun, the solar project will commence once an energy uptake agreement has been completed with the Zimbabwe Electricity Distribution Company (ZETDC).

“The company obtained independent power producer (IPP) licenses for the solar power projects for each operating location. The company is progressing with selecting an EPC contractor whilst awaiting finalisation of power purchase agreements with ZETDC,” he said in the FY2020 report.

Meanwhile, the mining group has said its 2 800MW Sengwa Power Station has been constrained by funding issues. “The efforts to secure financing to commence Phase 1 of the project were significantly hampered by the uncertainties presented by the Covid-19 pandemic,” said Mr. Beebeejaun.

RioZim, through Rio Energy Ltd, owns coal mining claims at Sengwa in Gokwe. However, slow progress on the Sengwa project could doom the project as coal is increasingly being shunned as an environmentally unfriendly energy source.

[Tawanda Musarurwa]

More: RioZim to begin work on solar plant

Comments are closed.