Zimbabwe is set to build 500MW solar stations after Cabinet yesterday approved a framework agreement with a major solar company based in the United Arab Emirates, Skypower Global (CAYMAN).
The Herald reports that the framework agreement is aimed at using the major natural resource of tropical sunlight.
The framework agreement is needed to allow Skypower Global and ZESA Holdings to negotiate a power purchase agreement as well as other ancillary agreements relevant to power generation. Skypower will build the stations but needs a deal that ZESA will then buy the power at the agreed price.
Speaking after yesterday’s Cabinet meeting, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said the construction of the solar stations will be done in phases.
Cabinet considered and approved the framework agreement between the Republic of Zimbabwe and Skypower Global of the United Arab Emirates as presented by Honourable Zhemu Soda, Minister of Energy and Power Development. In support of the initiative to promote investments, Government seeks to conclude a framework with Skypower Global.
Minister Mutsvangwa said this initiative comes against the backdrop of already existing good relations between Zimbabwe and the UAE, as was enhanced through the Dubai Expo Engagement.
SkyPower is one of the largest and most successful independent power producers that develops, finances, builds, owns and operates large solar stations across the globe totalling 25 000MW.
SkyPower is majority-owned by CIM, a transformative urban real estate and infrastructure fund manager.
Zimbabwe has a huge power deficit.
Hurry up and wait.