IDBZ targets 250MW new energy projects

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THE Infrastructure Development Bank of Zimbabwe (IDBZ) is seeking partners to develop nine renewable energy projects in the country with a combined output of 250MW to be added to the national grid plus three new medical facilities.

The bank has since called for expressions of interest from local and or international investors keen to participate in the projects in a bid to improve energy generation capacity and access to safe and quality health services in the country.

“Cognisant of the critical role energy plays as a key enabler in economic and social development, the bank is focused on promoting increase of capacity in energy generation in the country,” it said.

“In line with the green energy and climate smart initiatives, the bank is currently working with various independent power producers to prepare projects to bankability.

“The proposed initiatives are expected to plug the energy supply gap in the country, guarantee long term energy self-sufficiency at the same time saving the scarce foreign currency used to import power from regional utilities.”

The planned projects include Osborne mini hydro, Marondera solar farm, Gutu solar farm, Plumtree solar project, GDE Bulilima solar energy, Gwayi and the National University of Science and Technology (Nust) solar projects.

The bank also said it was ready to partner credible local and or international investors, private individuals and other investor institutions with a reputable track record in the development and financing of medical facilities.

The projects are meant to build a resilient health system leading to improvement in access to safe and quality health services.

The projects include Athol House Medical Facilities located in Harare and two others in Norton and Kadoma.

The bank said it already owns the pieces of land at the above mentioned places and plans to engage partners such as HealthPoint in the provision of medical facilities at Athol House and PSMI at the Norton Medical Facility and the Kadoma unit.

Healthcare investments often provide attractive investment opportunities and required infrastructure can be financed in different ways with project financing techniques becoming increasingly recognised as a useful and appropriate mechanism, said IDBZ.

IDBZ is a development finance institution mandated to improve the standard of living of Zimbabweans through sustainable economic growth. —–chron ile.co.zw

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