The African Export Import Bank announced that it will provide $4.4 million in special funds to advance the feasibility study and commercialization process of a 1 gigawatt hybrid floating photovoltaic power station at Lake Kariba in North Matabeleland Province, Zimbabwe. This milestone cooperation agreement was officially signed this month, with the partner being a professional new energy developer, Green Hybrid Power Company.

According to the agreement, the funds prepared for this project will mainly be used for two purposes: firstly, to conduct a comprehensive feasibility assessment and feasibility study, and secondly, to assist in selecting a professional trading advisory team. The Kariba Lake, where the project is located, as the world's largest artificial reservoir with water storage capacity, will provide unique water conditions for this clean energy project.

The green hybrid power company revealed that the construction of the power station will adopt a phased implementation strategy. The first phase serves as the technical validation period, with a planned construction of 500 megawatts of installed capacity. The total electricity generated by the project will be sold to the Zimbabwe Industrial and Mining Energy Users Union through a 20-year power purchase agreement, with cost reflecting electricity prices. The African Export Import Bank estimates that this initial investment is expected to drive approximately $350 million in subsequent project investments.

It is worth noting that this project will set a new record for renewable energy development in Zimbabwe. According to the latest statistics from the International Renewable Energy Agency, as of the end of 2024, Zimbabwe's national installed capacity of photovoltaic power generation is 70 megawatts, a significant increase from 46 megawatts in 2023. The promotion of the gigawatt level project marks a new stage in the country's energy structure adjustment.

Analysts pointed out that the project will not only significantly improve Zimbabwe's power supply capacity, but also set an example for new energy cooperation between China and Africa under the the Belt and Road framework. By utilizing the water resources of the world's largest artificial lake to develop clean energy, this project combines ecological and economic benefits, and has important demonstration significance for the sustainable development of energy in Africa. (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