Zimbabwe is seeking to mobilise more than US$9 billion over the next five years to overhaul its energy sector, with the government banking on private investors to fund nearly half the programme as it accelerates reforms aimed at eliminating power shortages and driving industrialisation.
The ambitious investment drive, anchored by the country's energy transition strategy, seeks to expand electricity generation, modernise transmission and distribution infrastructure, accelerate renewable energy projects and achieve universal electricity access by 2030.
Addressing the Zimbabwe Energy Forum on Friday, Energy and Power Development minister July Moyo said the government expected to raise more than US$4,42 billion from the private sector, acknowledging that public resources alone were insufficient to finance the country's growing energy needs.
"The role of government is to create an enabling environment where independent power producers, captive power producers, financiers and technology providers can invest with confidence," Moyo said in a speech read on his behalf by Energy and Power Development secretary Gloria Magombo.
He said the government had introduced the Provision of Backbone Infrastructure Regulations to unlock private investment in electricity distribution infrastructure, particularly in underserved communities.
The regulations are expected to accelerate grid expansion, improve electricity access and attract fresh capital into Zimbabwe's energy sector.
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Moyo said government was targeting 100% household access to electricity by 2030 by connecting about 320 000 households to the national grid while providing 200 000 households annually with off-grid energy solutions between 2025 and 2030.
"Our target is to achieve 100% household access to electricity by 2030 by connecting approximately 320 000 households to the national grid and 200 000 households through off-grid solutions every year between 2025 and 2030," he said.
Government is also modernising power generation, expanding transmission and distribution networks and accelerating investment in clean coal, solar, hydro, wind and other renewable energy technologies.
"Our goal is to increase renewable generation capacity from 1 282MW in 2024 to 2 640MW by 2030, representing almost half of Zimbabwe's projected generation capacity," Moyo said.
He said the contribution of renewable energy, excluding large hydro, would increase from 7,8% to 29% of the country's energy mix by 2030.
The net-metering programme is expected to reach 100MW by the end of 2025, with an additional 200MW to be added between 2026 and 2030.
Beyond electricity generation, Zimbabwe aims to increase access to clean cooking solutions from 38,6% to 70% by 2030 as part of its broader energy transition agenda.
"These are not just national development targets. They represent bankable investment opportunities for those who want to be part of Zimbabwe's industrial transformation," Moyo said