Zimbabwe Energy Regulatory Authority Projects Growth in Renewable Energy Investments Amid Power Shortages
The Zimbabwe Energy Regulatory Authority (Zera) forecasts a notable rise in renewable energy investments in 2024 as businesses respond to severe power shortages, with outages exceeding 10 hours daily. Zera's CEO, Edington Mazambani, highlighted the growing trend of companies investing in renewable sources for self-consumption, supported by the implementation of virtual and group net-metering schemes. Despite the country's potential for 109 GW of solar and 39.3 GW of wind energy, only 8,869 MW of solar PV capacity is currently installed.
Theia Market Signal Identification - AI Assisted
The Zimbabwe Energy Regulatory Authority (Zera) anticipates a significant increase in renewable energy projects in 2024 as companies seek to mitigate worsening power shortages. The country currently faces severe outages, with disruptions lasting over 10 hours daily, exacerbated by reduced operations at the Kariba hydropower station due to low water supply from an El Niño-induced drought.
Zera's CEO, Edington Mazambani, indicated that businesses are increasingly investing in renewable sources for self-consumption and net-metering, with over 18 MWp capacity already under the net-metering scheme. In 2024, Zera and the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) plan to implement virtual and group net-metering schemes. Zimbabwe holds an estimated potential of 109 GW from solar PV and 39.3 GW from wind energy, yet only 8,869 MW of solar PV capacity is currently installed.
Comments