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Victoria Falls Solar Park project sold for US$13 million

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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.

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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.

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“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.

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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.

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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

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Zimparks launches elephant culling program

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BY NOKUTHABA DLAMINI

In a bid to address the growing elephant population in Save Valley Conservancy, the Zimbabwe Parks and Wildlife Management Authority (ZimParks) has issued permits for a controlled elephant management exercise.

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The exercise, slated to commence shortly, aims to cull an initial 50 elephants from the conservancy, which is currently home to 2,550 elephants – more than three times the ecological carrying capacity of 800 elephants.

According to ZimParks, the conservancy has been struggling to cope with the swelling elephant population, which has put a strain on the wildlife habitat and resources. Over the past five years, the conservancy has translocated 200 elephants to other areas, including Hurungwe and Sapi, in an effort to manage the population.

Zimparks says the controlled culling exercise is expected to provide relief to the conservancy’s ecosystem, while also benefiting local communities.

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Elephant meat from the exercise will be distributed to local communities while the ivory will be kept by the State.

In a statement, ZimParks spokesperson Tinashe Farawo emphasized the authority’s commitment to responsible and sustainable wildlife management.

“We remain committed to ensuring that our wildlife resources are managed in a responsible and sustainable manner, for the benefit of present and future generations.”

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In the community

Hwange police seek public’s help in locating missing teen

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BY STAFF REPORTER 

The Hwange police are urgently seeking the public’s assistance in locating 16-year-old Latoya Lisa Munkuli, who went missing on May 7, this month.

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Latoya, a dark-complexioned female juvenile, was last seen leaving her residence in Hwange around 4 pm.

She was wearing a distinctive outfit consisting of green trousers and a white T-shirt, and carried a black satchel. She stands approximately 1.6 meters tall.

Inspector Glory Banda of the Hwange police is leading the investigation and urges anyone with information about Latoya’s whereabouts to come forward.

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If you have any information about Latoya’s disappearance, please contact Inspector Banda on 0785961747 or 0771256607.

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National

Coal train in flames: NRZ locomotive damaged in fire incident

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BY WANDILE TSHUMA 

A National Railways of Zimbabwe (NRZ) locomotive suffered significant damage after catching fire while transporting export coal to Zambi. The incident occurred between Kalala and Matetsi sidings, resulting in the explosion of the locomotive’s fuel tanks.

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According to the NRZ press statement on Monday, “A National Railways of Zimbabwe locomotive suffered some damages after it caught fire this afternoon while transporting export coal to Zambia.” Fortunately, the crew members on board managed to escape unharmed.

The NRZ responded swiftly to the incident, dispatching a rescue train with crews to the site. The team successfully extinguished the fire, preventing further damage. However, the locomotive itself sustained considerable damage.

The cause of the fire is yet to be determined, with investigations currently underway. “Investigations are already underway to establish the cause of the fire and the amount of damage to the locomotive,” the NRZ statement read.

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