Govt to review energy policies for investors

GOVERNMENT is developing an Independent Power Producers Framework to promote investment in the energy sector and is also set to introduce the concept of competitive bidding when procuring renewable energy, particularly solar and wind.

Speaking at the Zimbabwe Infrastructure, Power and New Energy Investors Conference in Harare on Wednesday, secretary for Energy and Power Development, Dr Gloria Magombo said her ministry will continue formulating and implementing effective policies and relevant regulatory frameworks which promote investment.

“The ministry is currently reviewing its strategic plan to align with the new reforms agenda and is in the process of working out modalities of implementation of the identified priority projects which include, but are not limited to, Batoka Hydroelectric scheme, solar mini hydro, rural electrification fund solar mini grids and transmission and distribution grid rehabilitation and upgrading projects,” she said.

“The ministry has developed the Renewable Energy Policy that will be the basis for crafting relevant legislation that will govern the sector. The policy will also introduce the concept of competitive bidding when Government is procuring renewable energy projects, particularly solar and wind.”

Dr Magombo said going forward, the ministry would seek to achieve two percent biodiesel blending after the establishment of a bio-diesel plant which uses jatropha seeds as feedstock run by Finealt Engineering in Mutoko.

She said the Independent Power Producers (IPP) framework will assist independent power producers to establish their projects without much hustle, as well as safeguard their interests.

“The ministry is currently developing the Energy Resource Plan whose objective is to explore optimum ways of harnessing available energy resources to meet the increasing energy requirements of our growing economy over a 25 year period,” said Dr Magombo.