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Victoria Falls Solar Park project sold for US$13 million

Published

3 years ago

March 22, 2022

HARARE – Kibo Energy plc, a United Kingdom renewable energy company listed in London and Johannesburg, has acquired the 100MW Victoria Falls Solar Park project for US$13 million.

The first 25MW of the project is fully funded and under construction, with the first 5MW expected to be in production by end of April 2022. The 25MW is to be connected to the grid by year-end.

Kibo is buying the project through a share purchase agreement with Brownhill, the company that was developing the project via its subsidiary Power Ventures.

Kibo, which has previously had interests in coal mining, has been moving away from fossils to invest in renewables, and CEO Louis Coetzee, says the Victoria Falls deal ties in with its strategy.

“We are pleased to have been in a favourable position to participate in this transaction, which is timely, following the company’s strategy to disinvest from fossil fuels and focus on renewable and clean energy projects,” Coetzee says.

“The successful completion of this Transaction will scale up Kibo’s footprint in Africa, with the potential addition of renewable energy projects in excess of 100MW with the first 5MW going into production at the end of April and the first 25MW fully funded for construction and commissioning.”

It is connected to the Hwange-Victoria Falls national transmission line, less than a kilometre from the solar facility.

On completion, the project will generate 100 MW of solar power, and is projected to deliver free cashflow (EBIT) of around US$107 million, according to the company.

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. Government is reluctant to issue IPPs the guarantees they demand.

The Victoria Falls project, however, has a 10-year power purchase agreement denominated in US dollars, and it will supply mining and industrial customers.

Kibo, has invested in coal assets before, including a 300MW coal-to-power project in Tanzania and Mabesekwa in Botswana. But it is shifting to renewables, with one of its most recent new projects being a 2.7MW plastic-to-syngas power plant in South Africa.

The company’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

Related Topics:Johannesburg London Victoria Falls Solar Park

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National

Tragic attack in Madlambuzi: Five dead as suspected mental patient goes on rampage

Published

2 days ago

August 22, 2025

VicFallsLive

BY WANDILE TSHUMA

Police in Madlambuzi, Matabeleland South Province has are a suspected mental patient, Phamani Sibanda, following a violent rampage that left five people dead and two others injured on Wednesday.

According to the police statement, Sibanda (43) allegedly attacked seven people in the village using a Mopani log, a blunt object, and an unknown sharp weapon, targeting anyone who crossed his path.

The victims of this tragic attack have been identified by their next of kin:

Elliot Khupe, 101, a male adult from Bellas Village
Butho Tshuma, 97, a female adult from Bellas Village
Constance Sibanda, 66, a female adult from Bellas Village
Tiffan Surprise Ndlovu, 6, a female juvenile from Bellas Village
Catra Matsika, 72, from Central Village

In addition to the fatalities, two other women, aged 90 and 41, sustained injuries and are currently receiving treatment at Madlambuzi Clinic and Plumtree District Hospital.

The ZRP has underscored the pressing need for community awareness regarding mental health issues. “We implore the public to promptly refer mental patients to medical institutions for treatment and to actively monitor their behavior to prevent such violent incidents,” the statement elaborated. It encouraged community members to report any concerns to the National Complaints Desk at (0242) 703631 or via WhatsApp at 0712 800197, or to approach the nearest police station.

In the community

Matabeleland North launches $250K fundraising campaign against drug abuse

Published

2 days ago

August 22, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

In a decisive move to address the escalating problem of drug and substance abuse, the government of has initiated a fundraising campaign in Matabeleland North Province with a target of $250 000.

The event will take place today at the Edmund Davis Hall in Hwange, focusing on raising funds and awareness to support youth rehabilitation efforts in the region.

Richard Moyo, the Minister of State for Provincial Affairs and Devolution in Matabeleland North, is spearheading this initiative.

In a recent interview with VicFallsLive, he emphasized the critical need for this campaign, stating, “The rise in drug and substance abuse among our youth is a major concern. We have seen children lose their lives and future because of addiction. This fundraising effort is essential to provide them with the help they need.”

Moyo addressed the need for government intervention, explaining that the cabinet committee on drug and substance abuse has taken significant steps to confront this crisis. “The committee has appointed chairpersons in each of the ten provinces to coordinate efforts against substance abuse. We must act now before the problem escalates further,” he added.

The background of drug abuse in Zimbabwe indicates a troubling pattern. Research shows a significant rise in substance use, particularly among unemployed youth and school dropouts. Moyo noted, “Many of our children are resorting to these substances as a way to cope with their circumstances. They often end up living on the streets, where they are exposed to even harsher realities. We want them to be occupied, and we will build rehab centers and hire people who will help them to quit the addiction because this is more common amongst the 2K children.”

Highlighting the importance of community involvement, Moyo called on local businesses and organizations to support the campaign. “We are appealing to all companies, particularly hotels and businesses in our province, to join us in this fight. Together, we can create a supportive environment for our children. Our president, Emmerson Mnangagwa, launched a nationwide initiative two months ago, and now, it’s time for Matabeleland North to take action,” he said.

Moyo further elaborated on the fundraising goal, stating that the $250 000 will be directed towards establishing rehabilitation centers and hiring experienced therapists. “These facilities will offer a second chance to those battling addiction. Our youth deserve the opportunity to rebuild their lives,” he emphasized.

Despite acknowledging that Matabeleland North’s drug problem may not be as severe as in other provinces, Moyo maintained that the issue is still significant, particularly in urban areas. “Here, we see children turning to drugs like marijuana, often sold by those who exploit their vulnerability. We must protect our children and provide them with the support they need to thrive,” he concluded.

The community’s response to this fundraising campaign will be pivotal in shaping a positive future for the youth of Matabeleland North, offering hope and resources for recovery and reintegration into society.

National

US suspends visa processing in Zimbabwe, embassy says

Published

3 days ago

August 21, 2025

VicFallsLive

BY REUTERS

The United States has stopped processing most visas in Zimbabwe until further notice, its embassy in the capital Harare said on Wednesday, citing unspecified concerns with the government.

“We have paused routine visa services in Harare while we address concerns with the Government of Zimbabwe,” the embassy said in a post on X. It said the move was not a travel ban and that current visas would remain valid.

The government of the Southern African country did not immediately reply to a request for comment.

The pause took effect on August 7, according to a notice on the U.S. State Department’s website, which said it applied to all visa services with the exception of most diplomatic and official visas.

U.S. President Donald Trump’s administration has restricted travel from a number of African countries, saying it is working to prevent visa overstaying and misuse.

Zimbabwe had a visa overstay rate of 10.57% in 2023, according to a U.S. Department of Homeland Security report.

Starting this week, the U.S. will require visa applicants from Zambia and Malawi to pay bonds of up to $15,000 for some visitor visas. The Trump administration has also paused visa processing in Niger.

Harare resident Angella Chirombo said her 18-year-old son had received a scholarship to do his bachelor’s degree at Michigan State University and had been waiting for a visa interview when the pause hit.

“He was supposed to be in school already. I paid for everything else and was waiting for the visa so I could buy tickets,” she told Reuters.

She said other parents were considering booking interviews at other U.S. embassies in Southern Africa, but that she wouldn’t be able to afford the travel.

“Now they are saying we can go to Zambia and Namibia. I don’t even have money right now and I don’t know where to get this money. They are so many students that have been affected.”