Zim Inks 500MW Solar PV Project Climate Deal With SkyPower – Whose Usd$400 Million FDI Stimulating $1.5 billion GDP&14000 Jobs

Zimbabwe has inked a 500 MW Solar PV Project Climate Deal With SkyPower dignifying a new era of sustainable clean growth.$400 million Foreign Direct Investment in Zimbabwe is expected to result in an estimated $1.5 billion in stimulus to Zimbabwe’s GDP, and the creation of approximately 14,000 job years.

Kerry Adler, Founder, President and Chief Executive Officer, SkyPower Global and Zimbabwe’s Minister of Energy, Zhemu Soda signed at the agreement ceremony in Sharm El Sheikh during COP27.This occasion was graced by President Dr Emmerson Dambudzo Mnangagwa.

The Head of State and Commander in Chief of the Zimbabwe Defence Forces President Mnangagwa said: “I am grateful to SkyPower, who is truly a global solar company for its commitment and focused efforts on reaching this global accord with Zimbabwe, as it not only demonstrates our commitment to focus on addressing the growing power needs of our country but the renewable energy power needs of our country with renewable energy but also demonstrates that Zimbabwe is focused on the climate action and is open for business.”

At the signing ceremony, Zimbabwe was represented by Mnangagwa, Minister of Energy Zhemu Soda and senior delegates of the country. SkyPower was represented by the President and CEO, Kerry Adler, and the Senior Executive team.

The government of Zimbabwe together with SkyPower announced the signing of a landmark Zimbabwe Solar Power Project – Climate Action Acceleration Agreement for 500MW solar PV project. This agreement signifies a new era of sustainable clean growth as it seals the People-first Public Private Partnership under the regional UN Economic Commission guidelines for renewable energy procurement.

The agreement represents a significant milestone in President Emmerson Mnangagwa’s vision and strategy of boosting the electrification rate to approximately 10% of its current renewable generation capacity.

The Green Giant Initiative is a proven catalyst for substantial job creation and economic development.

• The SkyPower’s chief executive officer, Kerry Adler said: “Power is quintessential. Zimbabwe has clearly demonstrated its intent to not only bring power to its people but to do so in a way that addresses a growing climate crisis and ensures that Zimbabwe’s people have access to low-cost power.”