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UK’s Kibo Energy drops plans to buy 100MW Vic Falls solar park, cites ‘incomplete’ project data
HARARE – Kibo Energy, the UK renewables developer, says it has dropped its interest to acquire the 100MW Victoria Falls solar park, citing incomplete information from the project’s current owners.
The company had said in March that it had agreed to buy the project from Broomfield International Limited for US$12.6 million.
Now Kibo says due diligence on the project shows it does not meet its requirements.
Kibo found that certain sections of the project still needed further development over a short period of time.
In other instances, the company says, Broomfield did not provide enough information about the project.
“If transactions do not meet our information or returns requirements, it is not appropriate to proceed,” said Kibo chief executive Louis Coetzee.
“This transaction, following our due diligence process which included satisfying the board on the documentation required for the regulatory re-admission and subsequent revised economics, ultimately did not meet our acquisition criteria.”
The Victoria Falls solar park
Under the proposed deal, Kibo would have bought 100% of the project, which has started construction of a 100MW plant near Victoria Falls.
The first 25 MW of the project is fully funded and under construction. The first 5MW of that 25MW was expected to have been in production by April.
In 2020, government invited bids for the installation of 500MW of solar power plants, hoping a shift to renewable energy will help ease crippling power cuts.
But investment into Zimbabwean solar has been slowed by investor doubts that they will be paid in US dollars for supplying power.
The Victoria Falls project, however, attracted Kibo because it has a 10-year, USD-denominated power
purchase agreements with mining and industrial customers.
In its shift from coal to renewables, Kibo’s acquisition strategy has been to target projects that are near production; its renewable energy assets all have a time horizon of less than 18 months to first production.- newZwire
BY NOKUTHABA DLAMINI
Blessing Waison and Fortunate Chidzivo took top honors at the 2025 Econet Victoria Falls Marathon yesterday, as Zimbabwean long-distance runners excelled at Africa’s most prestigious road race.
Econet General Manager – Marketing, Mrs Tariro Muchena (left), and Finance Director, Mr Chengeto Moyo, present the winner’s prize to men’s marathon champion, Blessing Waison, at the 2025 Econet Victoria Falls Marathon, while Victoria Falls Mayor, Mr Prince Moyo, looks on
The event, which featured athletes from over 40 countries, saw Waison storm to victory in the men’s full marathon, clocking 2 hours, 13 minutes, and 16 seconds. He narrowly beat decorated Olympian Isaac Mpofu in a thrilling duel that brought thousands of spectators to their feet.
Godwin Katakura followed closely in third, completing an all-Zimbabwean podium sweep in the 42.2km race. The trio’s success came with bigger rewards this year, after Econet Wireless doubled the total prize purse to $50,000.
Waison walked away with $3,000, while Mpofu and Katakura earned $2,000 and $1,500, respectively.
In the women’s marathon, Chidzivo delivered a commanding performance, clocking 2 hours and 42 minutes to claim another major title in her illustrious career. Ethel Pangiso and Phillipa Dube completed the women’s podium in second and third place, respectively.
Rising star Wayne Kabondo turned heads in the men’s 21km half marathon, overcoming a formidable field to finish in 1 hour, 3 minutes, and 44 seconds. Kabondo pocketed $1,500 for his efforts.
In the women’s 21km race, Caroline Mhandu crossed the line in 1 hour, 17 minutes, and 50 seconds, ahead of Miriam Sibanda and Melody Kaseke.
The marathon’s inclusive spirit was evident in the 18km Specially Abled Races, which saw uplifting performances across different categories. Godknows Hamadziripi claimed the men’s tricycle title, while Samson Muroyiwa won the handcycle event.
Among the women, Stella Jongwe triumphed in the handcycle race, and Ratidzo Tomu took first position in the tricycle category.
Organized by Econet Wireless in partnership with Wild Horizons, the 2025 edition drew over 5,000 participants and spectators from more than 40 countries. The marathon route, widely regarded as Africa’s most scenic, winds through game reserves and offers spectacular views of the Zambezi River and Victoria Falls.
https://x.com/vic_falls_live/status/1941861569450725776?s=46
Beyond the races, this year’s event featured live music, traditional dance, health expos, and community wellness activities.
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