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SkyPower inks solar climate deal with Zimbabwe

500MW solar PV project signifies a new era of sustainable clean growth

Published: Thu 17 Nov 2022, 8:38 PM

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Kerry Adler, Founder, President and Chief Executive Officer, SkyPower Global and Minister of Energy, Zhemu Soda of Zimbabwe at the signing agreement ceremony in Sharm El Sheikh during COP27. The occasion was graced by Emmerson Mnangagwa, President of Zimbabwe. - Supplied photo

Kerry Adler, Founder, President and Chief Executive Officer, SkyPower Global and Minister of Energy, Zhemu Soda of Zimbabwe at the signing agreement ceremony in Sharm El Sheikh during COP27. The occasion was graced by Emmerson Mnangagwa, President of Zimbabwe. - Supplied photo

SkyPower, together with the government of Zimbabwe 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.

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

The $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.

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.”

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.”

During 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.



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