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ZIMBABWE – LACK OF FUNDING STALLS POWER GENERATION PROJECTS
Over 30 Power generation projects stalled for the past 10 years because of lack of funding.
Power shortages in Zimbabwe had led the Government to open the power sector to private investors so as to complement the country’s integrated power generation and distribution company, ZESA holdings. Over 30 Independent Power Producers (IPPS) were given power generation licenses with a combined capacity to generate 5039 MW.
According to Gloria Magombo, Zimbabwe’s Energy Regulatory Authority (ZERA) Chief Executive Officer, many of the approved power projects of which some have been licensed for over a decade have not been materialized majorly because of huge capital outlays.
One of the companies granted this license that have not yet executed the project is RioZim Limited, who was awarded a license to construct a power station to generate 2 000MW at Sengwa.
Only Kariba Hydro Power expansion project of all the proposed major projects, has taken off.