The African Export Import Bank recently signed a framework agreement with Zimbabwe Green Hybrid Power Limited to provide $4.4 million in project preparation funds for the country's Kariba Lake 1 GW hybrid floating photovoltaic power plant project. The project is expected to drive a total investment of 350 million US dollars, marking a new stage in Zimbabwe's renewable energy development.

According to the agreement, the funds provided by the African Export Import Bank will be used for project feasibility studies, financing assessments, and hiring professional transaction advisors. The project plan will be implemented in two phases, with the first phase constructing a 500 MW pilot project. After the completion of the project, the generated electricity will be purchased by the local high-energy consumption user group according to the "take or pay" model, and both parties will sign a 20-year power purchase agreement.

Kanayo Awani, Executive Vice President of Internal Trade and Export Development at the African Export Import Bank, stated that the project will not only improve Zimbabwe's energy supply situation, but also set a benchmark for the development of renewable energy on the African continent. Eddie Cross, Chairman of Green Hybrid Power Co., Ltd., the project developer, emphasized that the project will fully utilize the water resources of Lake Cariba and achieve maximum utilization of solar power generation.

It is reported that the project is located on the famous Kariba Lake in Zimbabwe, and after completion, it will become one of the largest floating photovoltaic projects in Africa. The project adopts a hybrid power generation mode, combining photovoltaic power generation with other forms of energy to ensure the stability of power supply. This innovative model is expected to provide important reference for the development of renewable energy in other African countries. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website new energy column editor/Yang Beihua