Old Mutual Life Assurance invests into solar project
HARARE, OLD Mutual Life Assurance Company has applied for a license from ZERA to construct a modest 648kW solar photovoltaic power plant at its headquarters in Harare.
The company has since applied for a licence from the Zimbabwe Energy Regulatory Authority allowing it to sell the surplus in terms of electricity licensing regulations issued in 2008 allowing private stations to connect to the grid.
In a statement yesterday, ZERA said it had received an application from Old Mutual to construct, own, operate and maintain the power plant at its head office in Emerald Hill mainly for its own consumption, but with a connection to the grid through a 2,4km line to Dorset 33/11kV substation or a 10km line to Pomona 132/33/11kV substation in Harare.
Several companies have installed solar power plants at their headquarters as part of lowering electricity costs as well as avoiding losing production time.
Government is moving fast to incorporate solar into its energy mix to help ease the country’s power-shortage and complement long-serving fossil fuels and hydro capacity.
In the 2021 National Budget Statement Finance and Economic Development Minister, Professor Mthuli Ncube said Government would be offering incentives to those who invested in solar as a means to promote renewable energy use.