UK energy firm acquires local solar project
Harare (New Ziana) – A United Kingdom renewable energy firm, Kibo Energy plc, has acquired the 100-MW Victoria Falls Solar Park project for US$13.2m.
In an announcement, the firm said the solar project would begin producing 5MW of electricity by the end of April.
“The transaction concerns the solar project in Victoria Falls that will be developed in phases, starting with a 5-MW portion seen to become operational by the end of next month and a further 20 MW before December 2022.
“The facility will be hooked to the Hwangwe-Victoria Falls national transmission line by way of a simple loop-in loop-out connection,” it said.
Kibo said the project has all necessary permits in place along with long-term, USD-denominated power purchase agreements (PPAs).