Zim seeks to tie energy deals at summit

Source: The Herald – Breaking news.

 

Mr Eddington Mazambani

Herald Reporter

ZIMBABWE and Zambia are set to boost investment in the energy sector when they host the Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit in Victoria Falls.

The summit, set to run from Monday to Wednesday next week, comes as the governments of both countries are making innovative structural changes to make energy projects more bankable to attract investment.

It will run under the theme, “Powering Zimbabwe and Zambia’s sustainable energy future: Unlocking opportunities in renewables, grid modernisation and energy access”.

Vice President Dr Constantino Chiwenga will be the guest speaker.

Under the official patronage of Zimbabwe’s Ministry of Energy and Power Development, the summit will unveil energy project plans from both countries.

Private sector investment into solar, geothermal and wind is complementing traditional hydro projects against the backdrop of ongoing drought, and the broader vision is to create a much wider door for the global investment community to walk through.

The Zimbabwe Energy Regulatory Authority (ZERA) chief executive officer Mr Eddington Mazambani, said: “As we stand on the brink of a transformative era in energy, the Zimbabwe-Zambia Energy Projects Summit embodies our commitment to a sustainable future.

“Together, we will explore the vast opportunities in renewables, modernise our grids, and ensure energy access for all. Let us unite in our vision to power Zimbabwe and Zambia’s sustainable energy future, unlocking potential for growth, innovation and collaboration.”

Zera is the summit sponsor.

The Zambia Environmental Management Agency (ZEMA)’s recent investment of US$1,76 billion into the energy sector underlines the urgent need for energy expansion in the region.

Devastating droughts across Eastern and Southern Africa have set a context for why scenario planning is so vital, with the potential of dams regularly running dry.

Bilateral and regional infrastructure will be critical to countering the impact, and to reduce dependence on dominant energy sources. The need for urgent grid infrastructure investment is just one of the topics to be discussed.

“Having supported the mining sector in the DRC for 14 years, we welcome this opportunity for the important conversations that will unlock opportunities in energy and infrastructure across Zimbabwe and Zambia, and power a sustainable future,” said Mr Manoj Patil, director of mining engineering services, a Vinmart Group Company, and a sponsor of the summit.

Development Finance Institutions and multinationals attending include the African Development Bank (AfDB), British International Investment (BII), FMO, Trade and Development Bank (TDB), Climate Fund Managers and Standard Bank.

They join a host of public sector leaders and stakeholders set to speak at the summit, most notably the Ministers from Zimbabwe and Zambia, the EU Ambassador to Zimbabwe, and esteemed speakers from ZERA, Zambezi River Authority (ZRA), ZESCO, and ZESA Holdings, among others.

Speaking on behalf of Marsh, also a summit sponsor, Mortimer McKechnie, senior vice president, Energy and Power Leader, Africa, added: “This is an opportunity to come together, share experiences and think innovatively. Linking capital and mitigating risk can boost development for both countries, and Marsh is very excited to be part of this summit.”