Africa GreenCo Group, through its Zimbabwean operating subsidiary, ZimGreenCo Power Services (Pvt) Limited (together GreenCo) is delighted to announce significant milestones that underscore our commitment to advancing the renewable energy sector in the region and fostering sustainable development.
COP 28 provided the perfect backdrop to formalise the arrangements by which Zimbabwe Electricity Transmission & Distribution Company (ZETDC) will provide GreenCo with access to the Zimbabwean national electricity network in order to conduct electricity trading activities within Zimbabwe. This grid access will enable GreenCo to support the development of renewable energy generation in Zimbabwe and to provide new sources of supply to the many burgeoning Zimbabwean businesses that urgently require additional power to implement their ambitious expansion plans.
During the ceremony, Minister of Energy and Power Development Hon. Edgar Moyo said “The signing of these Agreements with GreenCo represents our commitment to ensuring the successful integration and operation of renewable energy sources into our national grid. This partnership will unlock new opportunities for investment in renewable energy and pave the way for a more sustainable and resilient energy system.”
GreenCo Chief Executive Officer, Ms. Ana Hajduka said “In collaboration with ZETDC, we are paving the way for enhanced energy security and grid reliability in Zimbabwe. This aligns with President Emmerson Mnangagwa’s vision for more investment in energy, meeting the nation’s growing demand, and ultimately driving economic growth.”
ZESA Chairman, Dr. Sydney Gata stated “GreenCo’s innovative approach to risk mitigation creates and unlocks significant investments, enabling the efficient and sustainable development of Zimbabwe’s vast renewable energy resources. This partnership aligns with our vision of transitioning to a greener energy landscape without placing undue burden on government and the public sector.”
GreenCo Chief Commercial Officer, Ms. Cathy Oxy noted that “as the role of utilities evolves, it is vital to put in place arrangements which enable new market participants to utilise the existing grid infrastructure while remunerating utilities fairly for the essential services they provide and the costs they incur in operating and maintaining the network. ZETDC have consistently demonstrated a pragmatic approach to addressing challenges and reaching win-win solutions. We very much look forward to working closely with them over the years ahead as we jointly support the development of the Zimbabwean energy sector.”
ZETDC Managing Director, Eng. Abel Gurupira said “Achieving universal access to clean and affordable energy and fuelling the growth of the Zimbabwean economy requires close collaboration between the public and private sectors and a willingness to embrace new business models. With increasing negative impact of global warming and climatic changes on our energy supply, GreenCo’s entry into Zimbabwe promises to herald a new way to accelerate clean energy deployment on the ground.”
In an associated development, GreenCo is thrilled to announce the approval of its Zimbabwean retail supply licence by the Zimbabwe Energy Regulatory Authority (ZERA), a significant milestone that advances our mission to foster investment in Zimbabwe’s renewable energy sector. ZERA’s approval aligns with the overarching national goal of increasing installed renewable energy capacity to 26.5% of the total generation capacity mix by 2030. In addition to the retail licence approval, GreenCo was granted an investment licence from the Zimbabwe Investment and Development Agency (ZIDA) earlier this year, demonstrating ZIDA’s commitment to promoting a favourable investment climate and attracting private sector investments to boost Zimbabwe’s economy.
Zimbabwe possesses abundant untapped renewable energy resources, including solar, wind, and hydro potential, yet to be fully harnessed. GreenCo, in collaboration with key industry stakeholders, aims to effectively leverage these resources. The mission is to participate in opening Zimbabwe’s electricity supply industry, fostering competition through innovative market models, all while remaining dedicated to supporting the country’s transition to a more sustainable, reliable energy sector. This commitment involves promoting investment, renewable energy, and local development, underscoring our role as a steadfast partner actively promoting regional sustainability and innovation.
A reliable energy supply is a cornerstone for economic growth, industrial development and the well-being of communities, making these milestones a vital step towards achieving energy security.