EU, Germany back new renewable energy investment platform in Zimbabwe
Yesterday, the GET.invest and GET.transform programs officially launched a new country window in Zimbabwe. Funded by the European Union and Germany, the announcement was made in Harare during the EU-Zimbabwe Economic Forum, attended by government officials, private sector players, and development partners.
The country window is designed to drive private investment in renewable energy by making financing more accessible, supporting regulatory reforms, and providing technical and strategic guidance to project developers. It draws on the financial advisory services of GET.invest, including its EDGE Finance tool, and the policy and governance expertise of GET.transform.
According to the International Energy Agency, hydropower accounted for 67% of Zimbabwe's electricity production in 2022. However, repeated droughts have weakened this dependency, creating an urgent need to diversify the country's energy mix. In response, the rollout of solar solutions has become a national priority to strengthen energy security.
Speaking on behalf of the private sector, Isaiah Nyakusendwa, President of the Renewable Energy Association of Zimbabwe, welcomed the initiative. He said the GET.pro country window had come at the right time and that the technical support to the public sector would help create a more attractive environment for private energy investment.
With this launch, Zimbabwe joins a growing list of sub-Saharan African countries, including Nigeria, where GET.invest recently introduced a similar national window. These platforms are tailored to local contexts and aim to remove key barriers to private sector investment in clean energy.
Ultimately, the goal is to build a more resilient energy market that can attract the capital needed to meet electrification targets and support the energy transition across the region.
© Copyright The Zimbabwean. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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