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Solar energy projects secure $50 million in regional green financing

Business

A consortium of Independent Power Producers (IPPs) has successfully secured $50 million in green financing from regional development banks to fund the construction of three utility-scale solar farms in the Matabeleland and Midlands provinces.

The projects, scheduled to break ground next month, will add a combined 120 megawatts to the national grid once fully operational. This investment represents a major step forward in diversifying the country's energy mix and mitigating vulnerability to drought-induced hydroelectric deficits.

Government officials praised the public-private partnership model, emphasizing that sustainable energy infrastructure is essential for supporting industrial expansion and attracting foreign direct investment.

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