GOVERNMENT has given large-scale electricity users a two-year deadline to build their own captive power plants, Energy minister July Moyo announced on Wednesday.
Persistent and severe power shortages have forced many businesses to operate mainly at night when electricity is available.
Moyo revealed the policy at the Africa Capital Markets Forum in Johannesburg, where he presented Zimbabwe’s energy investment opportunities.
Kenya and Ghana also presented their national energy compacts at the event.
“To support economic growth, we have created a window requiring large consumers to build their own captive power within two years, whether through solar or thermal solutions,” Moyo said.
“Many private sector companies have already begun developing these facilities, alongside independent power producers.”
He said to combat the widespread power crisis, the government was licensing private players to bring electricity to 371 unconnected housing developments, known as “dark cities".
“Private players are being licensed to reticulate these areas, build infrastructure and recover investment through our prepaid billing system,” Moyo said.
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“Electricity can initially be provided by other means, while grid expansion occurs later.”
He highlighted successful pilot projects financed by banks as models for collaboration between government, the private sector and financial institutions to power households that have “long been in the dark”.
He outlined an ambitious funding strategy for the national energy overhaul, stating that a total investment of US$9,13 billion is required.
The minister called on investors and development partners to contribute US$4 billion towards the implementation.
“We invite investors, financiers and development partners to join us as we light up Zimbabwe, strengthen southern Africa’s energy landscape and create a brighter, sustainable future for all,” Moyo said.
The energy compact was developed with input from over 200 stakeholders, including the private sector, government bodies and international institutions like the World Bank and the African Development Bank.
