Government is promoting the development of solar energy by drafting policies that enable solar producers to swiftly set up mega plants in the country.
The move is aimed at bringing an end to the current power shortages that the country is facing. The new policies will see solar independent power producers getting economic tarriffs above 10 cents, easy access to foreign currency and government guarantees on power purchase agreements.
These policies are being spearheaded by the Ministry of Finance and Economic Development in a bid to lure investment in the country’s power sector.
Speaking at a Victoria Falls investment roadshow, Finance Minister Professor Mthuli Ncube said the missing link on the development of the country’s energy sector is caused by the lack of economic incentives for independent power producers which he said were vital.
“Our government is now looking into incentivising the sector to encourage investors to invest their money. I would like to assure interested investors that their money will be safe under the second republic,” Professor Ncube said.