An American company, Labacorp Power Company America, has expressed interest in developing a 900MW solar project in Zimbabwe. The US-based corporate has applied to the Government, through their local partners Craft Properties (Pvt) Ltd, for the implementation of the gigantic and game-changing project.
Craft Properties (Pvt) Ltd founder chief executive Mr Kudakwashe Taruberekera confirmed the reports and said the investors will be bringing a full complement of professionals, including engineers, who will be working with technicians in the implementation and subsequent running of the solar plant. The company signed a Memorandum of Understanding with Texan investors in November last year after President Mnangagwa gave the investment his blessings.
It further states that real GDP growth of more than five percent per year from 2001 to 2014 has resulted in unprecedented growth in electricity consumption and demand in the region. It is however projected demand for electricity energy to increase by an average of 3.1 percent per year from 2015 to 2027, to almost 540TWh, hence the need for countries to investment in alternative energy sources.