Major boost for Zim’s renewable energy projects

Sweden has pledged more support for Zimbabwe’s renewable energy projects after unveiling a US$6.5 million funding programme for business projects within the sector.

The programmes officer responsible for development corporation at the Embassy of Sweden in Zimbabwe Dr Gareth Horsfield told the ZBC News after unveiling of the funding programme in the capital that the provision of funds indicate renewed interest by the country in mending bilateral economic ties with Zimbabwe.

“We are grateful over the facility which we hope shall go further in increasing cooperation with Zimbabwe in the future,” he said.

The funding of renewable energy projects is critical mainly in terms of helping new entrants or the small players in completing their projects, said the Renewable Energy Association of Zimbabwe president Mr Isaiah Nyakusendwa.

“What more can we ask apart from ensuring that such projects yield their desired results as we forge towards boosting efficiency,” he said.

Africa Enterprise Challenge Fund director for strategy and partnerships Mrs Pauline Mbaya said Zimbabwe is on course to achieve key targets of providing clean energy at affordable costs, prices or tariffs.

“What more can we ask at a time when we believe time is now ripe to enhance productivity in the economy in fact it is a real testimony of your government’s commitment,” he said.

Players in the renewable energy sector are also seeking to complete projects through resource mobilisation with aim of reducing the electricity import bill.