BY MUNYARADZI BLESSING DOMA
Zimbabwe and Zambia will seek to attract further investment into their energy sectors and accelerate the implementation of power projects when the third edition of the Zimbabwe-Zambia Energy Projects Summit opens in Livingstone next month.
The summit, organised by EnergyNet, will run from November 3 to 5, at the Radisson Blu Mosi-Oa-Tunya under the theme, “Celebrating How Zambia and Zimbabwe Have Unlocked FDI Through Connectivity, Credibility and Cooperation”.
The meeting comes as both countries seek to build on recent reforms and investment in the energy sector, with discussions expected to focus on new power generation projects, cross-border electricity transmission and financing models to move projects towards implementation.
According to the organisers, Zimbabwe has opened up greater opportunities for private sector participation, with ZESA Holdings reporting 635 megawatts (MW) of private generation capacity under construction and another 730MW progressing towards financial close.
In Zambia, Copperbelt Energy Corporation financed the second phase of the Itimpi project through a green bond programme on local capital markets, while First Quantum Minerals is working with independent power producers to supply its mining operations.
The summit will explore opportunities to expand electricity generation to support mining and industry, while strengthening transmission infrastructure and interconnectors to facilitate power trading between the two countries and across the Southern African Power Pool.
Projects expected to feature in the discussions include Lumwana Super Pit, the Kansanshi S3 expansion, Chisamba Solar and Kariba Floating Solar.
The programme will also feature presentations on project pipelines in Zimbabwe and Zambia, with government officials, utilities, financiers and private sector players expected to discuss ways of mobilising investment and accelerating project implementation.
Zimbabwe’s Minister of Energy and Power Development, July Moyo, will be among the key speakers alongside Zambia’s Minister of Green Economy and Environment, Dr Gilbert Siame.
Other speakers include ZESA Holdings group Chief Executive Officer Cletus Nyachowe, Zambia’s Industrial Development Corporation Chief Executive Officer Cornwell Muleya and Southern African Power Pool Electricity Market Analyst Simbarashe Pasipamire.
EnergyNet Group Deputy Director for Africa Abdoulaye Sylla said the two countries had reached a critical stage in their energy development, with the need to diversify from climate-vulnerable hydropower towards solar and hybrid solutions creating opportunities for investment.
Sylla said regulatory reforms relating to open access, electricity wheeling and private sector participation had also strengthened the countries’ appeal as investment destinations.
“Zim-Zam is about turning that momentum into action. We need to move beyond discussions to unlocking FDI, de-risking IPP frameworks and accelerating bankable projects and cross-border infrastructure,” Sylla said.
It was added that the priority was now to ensure that proposed projects progressed towards delivery.
Standard Bank Corporate and Investment Banking Head of Project Finance in Energy and Infrastructure Sherrill Byrne said regional integration was essential to unlocking Africa’s power and renewable energy potential.
Byrne said stronger cross-border transmission networks and coordinated electricity markets could enable countries to share energy resources, improve electricity supply and attract long-term investment.
Byrne added that aligning regulation, planning and infrastructure development could accelerate the delivery of reliable, affordable and cleaner power to support inclusive economic growth.
Bowmans Partner Aleem Tharani said regional interconnection and investor-friendly regulatory environments were helping to generate investment opportunities, with projects reaching financial close and private capital moving into transmission and electricity trading.
The summit is expected to provide a platform for governments, utilities, financiers and project developers to discuss financing structures and partnerships needed to advance the next generation of energy projects in Zimbabwe and Zambia.
Copperbelt Energy Corporation is the country host, while Petrodex is the summit sponsor. Bowmans and Standard Bank are lead sponsors, with Soleos as sponsor and Metmin and Modaso Energy as associate sponsors.
