HARARE, Zimbabwe — Zimbabwe is edging closer to securing a landmark $400 million investment to construct a 500-megawatt (MW) floating solar project on Lake Kariba, state media has reported. The development is positioned to be a major step in the nation’s push to shore up its electricity grid and meet aggressive renewable energy targets.
Led by Green Hybrid Power and backed by financing from the African Export-Import Bank (Afreximbank), the massive infrastructure project encompasses more than just solar panels. The initiative will feature a state-of-the-art floating solar power station, a large-scale battery energy storage system, and newly integrated transmission lines designed to stabilize the regional grid.
Boosting Supply and the Economy
The ambitious facility is set to significantly boost Zimbabwe’s domestic power supply, providing a much-needed lifeline to industries looking to transition from carbon-intensive power sources to green energy. Furthermore, the construction and ongoing maintenance of the project are expected to create thousands of jobs, stimulating the local economy and related downstream industries.
Coexisting with Lake Kariba’s Ecosystem
Despite the scale of the 500MW installation, the floating solar facility is projected to occupy a mere 0.2% of Lake Kariba’s total surface area. Project developers have emphasized that the solar arrays are designed to peacefully coexist with the lake’s vital economic and ecological activities, ensuring that commercial fishing, tourism, and water transport remain entirely undisrupted.
Closing the National Energy Gap
This investment arrives at a critical juncture for Zimbabwe’s energy sector. The country’s current daily power generation fluctuates between 1,500 MW and 1,800 MW, which consistently lags behind the national peak demand of approximately 2,200 MW. This historical shortfall has frequently led to power rationing, which can hamper industrial output and daily life.
By integrating this high-capacity floating solar station into the national power grid, the government moves closer to its overarching target of achieving 2,100 MW of installed renewable capacity by 2030.
