Zimbabwe’s industrial electricity consumers are aiming to raise R4.7 billion for phase one of floating solar panels on Kariba Dam.
The Zimbabwean government’s sovereign wealth fund will possess a 10% share in the company, while the remaining 38% will be open to investors, including development banks.
Members of The Intensive Energy User Group, including mining companies, will have a 52% ownership stake in a development company responsible for the project located in Kariba Dam.
The power station initially designed for 250 megawatts will generate electricity sold to the group and other eligible customers through a 25-year power-purchase agreement.