Zimbabwe and Zambia Unite for Renewable Energy: Tackling Power Crisis with Solar and Wind Investments
Zimbabwe and Zambia Push for Renewable Energy Investments Amid Severe Power Crisis
VICTORIA FALLS, ZIMBABWE — Zimbabwe and Zambia are hosting a pivotal summit this week in Victoria Falls, focusing on attracting investments for renewable energy projects to combat their ongoing energy crisis. With the Kariba Dam reservoir nearly depleted due to the region’s worst-recorded drought, the two neighbors are seeking sustainable solutions to alleviate prolonged power outages that have reached up to 20 hours a day.
At the inaugural Zimbabwe-Zambia Energy Projects Summit, officials emphasised the urgency of transitioning away from over-reliance on hydropower, which has left both nations vulnerable to climate-related energy disruptions.
The Promise of Solar and Wind Energy
Zimbabwean Vice President Constantino Chiwenga highlighted the untapped potential of solar and wind power, noting that both nations enjoy abundant sunshine year-round.
“This is the only asset on this Earth we do not pay for. So, let’s use it,” said Chiwenga, advocating for large-scale solar farms that could generate energy for local use and export to neighboring countries.
Chiwenga stressed that renewable energy investments would not only boost energy security but also position Zimbabwe and Zambia as significant players in the regional energy market. The summit included discussions on innovative projects like floating solar farms on Lake Kariba, leveraging the same reservoir currently suffering from drought-induced low water levels.
Renewable Energy Backed by Mining Revenue
Zambia is planning to fund its renewable energy transition through increased copper production. Zambian Energy Minister Makozo Chikote announced a target of 3 million metric tons of copper annually by 2035, with a significant portion of revenue earmarked for renewable energy projects.
Chikote acknowledged the risks of overdependence on hydropower and the urgent need for diversification:
“The demand for electricity and resources continues to grow, and it is imperative that we adopt strategies to meet the challenges head-on.”
Challenges in Attracting Western Investors
While the two nations have ambitious renewable energy goals, international investors have raised concerns about the stability of local policies. Jobst von Kirchmann, European Union ambassador to Zimbabwe, stressed that predictability in legislation, judicial processes, and especially monetary policy is crucial for attracting investment.
Zimbabwe’s multi-currency system, implemented in 2009, has provided some stability, but ongoing calls within the ruling ZANU-PF party to abandon the U.S. dollar have spooked potential investors.
“If someone goes out and says, ‘We should abandon the dollar; we should go back to mono-currency,’ that’s a killer for investment,” von Kirchmann warned.
British trade commissioner for Africa, John Humphrey, echoed these sentiments, emphasizing the importance of long-term stability in the renewable energy sector:
“When we are in the renewable sector, it’s not just about five or 10 years. You are looking at a much longer period. Money is like water; it goes where it is easy, and if you put something in its way, it just flows somewhere else.”
Shared Goals for a Sustainable Future
The summit marks an essential step for both Zimbabwe and Zambia in addressing their energy challenges. Officials hope to secure commitments from Western investors and financial institutions to help fund large-scale solar and wind projects. The two nations are also looking to strengthen their regional energy partnerships, exploring opportunities for cross-border energy trade.
As the summit draws to a close on Wednesday, the discussions have underscored the interconnected nature of climate change, energy security, and economic development. By harnessing renewable energy, Zimbabwe and Zambia aim to not only overcome their current crisis but also build a sustainable future that benefits their citizens and the broader Southern African region.
Conclusion
The Zimbabwe-Zambia Energy Projects Summit is a bold step toward diversifying energy sources and reducing dependency on vulnerable hydropower systems. While challenges remain—particularly in creating a stable and investor-friendly environment—the potential for solar and wind energy offers a viable path forward.
By embracing renewable energy and fostering international collaboration, both nations have the opportunity to address their energy crises and emerge as leaders in the regional energy market. If successful, their efforts could serve as a model for other African nations facing similar challenges.