By A Correspondent- Government has concluded negotiations with South Africa’s power utility, Eskom, that will see the country receiving 400MW of electricity while paying US$890 000 weekly to service its legacy debt.
This was said by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa at a post-Cabinet meeting media briefing yesterday.
“Cabinet was informed by the Minister of Energy and Power Development that an arrangement to unlock the supply of 400MW has been concluded with Eskom,” she said.
“In terms of this arrangement, Government through Treasury, has commenced the payment of an amount of US$890 000 per week towards the settlement of its debt to Eskom. Furthermore, similar discussions will soon commence with Hydro Cahorra Bassa of Mozambique.”
Zimbabwe owes Eskom and HCB about US$74 million in legacy debts.
Minister Mutsvangwa said Cabinet had approved the National Renewable Energy Policy that was presented by Industry and Commerce Minister Mangaliso Ndlovu.
“Cabinet considered and approved the National Renewable Energy Policy which was presented by the Minister of Industry and Commerce, as chairman of the Cabinet Committee on Industrialisation and Export Development. The renewable energy sector in Zimbabwe comprises solar, hydro, wind, geothermal and biomass energy sources,” Mutsvangwa said.
She said the policy seeks to attain the following: “to establish market-oriented measures and regulatory instruments for the development of the renewable energy sector in Zimbabwe; to address the barriers to the uptake of renewable energy in the country; to achieve an installed renewable energy capacity consistent with the country’s projected energy requirements under Vision 2030; to promote investment in the renewable energy sector; to provide the necessary guidelines, incentives, standards, procurement and financing mechanisms for promoting the development of off-grid projects, which have the potential to increase electricity access in rural areas and to promote the manufacturing of renewable energy equipment in the country as well as local skills development in that regard.-StateMedia