$4.4M Deal Powers Kariba Floating Solar Project

Zimbabwe has secured a US$4.4 million facility to prepare for the construction of a 1-gigawatt floating solar power plant on Lake Kariba.

Officials say the move could significantly boost the country’s renewable energy supply.

The agreement, signed between Green Hybrid Power, a subsidiary of the Intensive Energy User Group of Zimbabwe, and Afreximbank, will fund bankability and feasibility studies for the proposed Kariba Floating Solar Project.

According to project sponsors, the studies will cover technical, financial, environmental, and regulatory requirements to determine the viability of Zimbabwe’s first large-scale floating solar photovoltaic plant.

If implemented, the facility is expected to ease the country’s persistent power shortages and diversify its energy mix, which is currently heavily dependent on hydropower and thermal generation.

Energy experts say floating solar technology offers advantages such as reducing land use pressures and improving efficiency through water cooling.

However, the project will still require substantial investment beyond the preparatory phase to move into full construction.

The government has identified renewable energy development as a priority under its national energy strategy, with the Kariba project viewed as a landmark step in innovation and sustainability.