“A mix of energy sources to power Zimbabwe”

By Baiba Petrusevica Source:Global Times Published: 2015-11-30 19:11:18

Noah F. Gwariro, Managing Director of Zimbabwe Power Corporation

Since 1999 the Zimbabwe Power Company (ZPC) has operated five power stations, providing coal and hydro power to the national grid. 

What are the obstacles in ensuring a project progresses?

The capability of the market to pay for tariffs is often a concern. We have noticed that some of the investors think that our tariffs are a bit too low. There are also misconceptions about the stability of the country. We have seen interest from traditional funders and investors from the West. I think that is going to help overcome this obstacle of misperception. 

How are you instilling confidence in the energy sector? 

We operate in a transparent manner so that investors know that money will be safe, and they are clear on how we are going to repay loans. For loans that we have entered into to fund our projects, we are up-to-date with our payments and commitments. 

What is the ideal energy matrix for the industry? 

We believe that we need a mix of energy sources to power Zimbabwe, especially renewable energies. I think in the long term, perhaps nuclear power will be a possibility. For the time being, we are looking at thermal, which is coal-driven, as well as hydro.

What do investors need to know about the country?

Investors must remember that Zimbabwe is based on a strong currency—the US dollar. The government also supports the growth of this industry. Your investments are safe and sound here, and you can be assured of good returns.

Posted in: Africa

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