Energy Minister Moyo rallies investors as Zimbabwe eyes renewables boom

 

STAFF WRITER

Energy and Power Development Minister, July Moyo, has called for greater participation in the country’s renewable energy drive, urging investors and institutions to seize the opportunities presented by government policy reforms and sectoral needs.

Speaking at the International Renewable Energy Conference and Expo in Victoria Falls, Moyo outlined the government’s vision for an inclusive and liberalised energy sector that can harness the potential of solar, hydro, and other renewable sources to power Zimbabwe’s economic transformation.

“We think that opportunities are now there for everyone to take part,” Moyo said.

“When we talk about solar or renewable energy, we must contextualise it within the structure of our economy. Zimbabwe has 17 economic sectors, with the largest being agriculture, mining, industry, and manufacturing. Each of these presents distinct opportunities for renewable energy deployment.”

He urged energy stakeholders and investors to see themselves as integral to powering the productivity of these sectors.

According to Moyo, the application of renewable technologies must be tailor-made to support specific sectoral needs, with solar energy systems for irrigation in agriculture, hybrid power solutions in mining, and industrial-scale renewables for manufacturing.

A key highlight of his remarks was the liberalisation of power generation in Zimbabwe.

While the state-owned utility ZESA remains the primary generator of electricity, Moyo emphasised that government policy now permits private and independent players to participate in power production.

“One aspect we are pushing as government policy is that, while ZESA remains responsible for generation, we have liberalised the sector,” Moyo said. “Anybody can now invest in generation—whether it’s thermal, hydro, or renewable energy.”

However, he noted that the transmission of electricity remains a more complex area.

Although full liberalisation may not be feasible due to the nature of grid infrastructure, Moyo said government is exploring models used in other countries, including the United States, where the State maintains control over transmission while allowing private investment in supporting infrastructure.

“In transmission, it is very difficult to liberalise. But we are saying investment is still possible,” he explained.

“We are thinking through how to run it differently. In the U.S., transmission is controlled by the State but allows room for private sector participation. That is a model we are studying.”

Moyo also made a strong case for leveraging domestic resources to fund renewable projects—particularly the country’s pension funds. He pointed to self-managed pension schemes from institutions such as ZESA, the National Railways of Zimbabwe (NRZ), and the mining industry as untapped pools of capital that could be mobilised for green energy investments.

“Pension schemes like ZESA, NRZ, and those in the mining industry are self-managed but jointly owned by business and labour,” he said.

“These are your people’s forced savings. Rope them in to invest in renewables. Renewable energy is a major enabler for our economy’s growth, and we must utilise these forced savings wisely.”

The Minister’s remarks come at a time when Zimbabwe is grappling with energy shortages, which have hampered industrial output and economic performance.

The government sees renewable energy as a critical part of the solution—both to reduce dependency on imports and to ensure sustainable, resilient growth.

As the country seeks to attract green investment and scale up infrastructure, Moyo’s remarks served as a clarion call to local and international investors, development finance institutions, and pension funds to align with government’s vision of a cleaner, diversified, and investor-friendly energy sector.

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