Zimbabwe Power Users Raise $250 Million for Floating Solar
- Funding secured from Afreximbank to finance power project
- A 250-megawatt solar plant to be installed at Kariba Dam
The Kariba Dam and the Kariba lake in Kariba, Zimbabwe.
Photographer: Guillem Sartorio/AFP/Getty ImagesThis article is for subscribers only.
Zimbabwe’s industrial power users secured $250 million from the African Export-Import Bank to build floating solar panels at the world’s largest man-made lake.
The Intensive Energy User Group, made up of mining companies including a former local unit of Rio Tinto and Mimosa, plan a 250-megawatt plant at the Kariba Dam to be implemented in 18 months, according to a copy of its presentation seen by Bloomberg. That can be expanded to 1 gigawatt of solar capacity.