Zimbabwe has proposed incentives to accelerate 1GW of privately owned solar energy projects worth $1-billion.
incentives to accelerate 1GW of privately owned solar energy projects worth about US$1-billion , finance minister Mthuli Ncube announced on Monday, as the country scrambles to plug an electricity deficit that threatens to compound its economic woes.
Zimbabwe’s drive towards generating 1.1GW from renewable energy sources by 2025 has been slowed by lack of investment by independent power producers spooked by the country’s currency volatility and uneconomic tariffs.The Zimbabwe dollar has rapidly lost value, plunging from around Z$2.5 to the US dollar when it was reintroduced in February 2019 after a decade of dollarisation, to Z$673.42 against the greenback currently.
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