UNESCO launches a $45 million renewable project in Zimbabwe

Apr 28, 2022 | Financing, Power, Power, Zimbabwe

A new USD 45 million renewable energy project for Zimbabwe is scheduled to start this month and run for four years

UNESCO launches $45 million renewable project in Zimbabwe

A new USD 45 million renewable energy project for Zimbabwe is scheduled to start this month and run for four years.

According to Unesco, this programme was approved in January 2022 by the UN SDG-Fund and the government of Zimbabwe (and its partners), which have contributed $10 million and $35 million, respectively.

Unesco also states that the project will last four years. They have developed it with UN Women, UNDP, and the Government of Zimbabwe to promote private sector participation in the production and distribution of clean energy in Zimbabwe.

“Government is thus aware that renewable energy has become a good option and a preferable energy source throughout the world. Its technologies are climate-friendly, and their adoption reduces Green House Gases (GHG) emissions” H.E. Emmerson Mnangagwa, President of the Republic of Zimbabwe.

However, the constant power cuts in Zimbabwe are hurting business productivity. This also stifles the country’s economic and social transformation.

“The main intervention of the programme centres on the establishment of an innovative, inclusive and gender-responsive Renewable Energy Fund that aims to leverage private sector and financial markets to finance Renewable energy projects that have a return on investment while achieving social impact for the acceleration of SDG achievement in Zimbabwe” Martiale Zebaze-Kana, Unesco Head of Science Unit / Unesco.

Did you know, ABiQ tracks more than $15 billion of energy projects in Zimbabwe? For more information on these, reach out to us here and one of our executives will give you a tour.

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