Old Mutual goes green as it mounts solar system at Mutual Gardens

Old Mutual goes green as it mounts solar system at Mutual Gardens

Staff Reporter

HARARE, OLD Mutual Zimbabwe Limited says it will work in partnership with Easy Power Limited to install a ground mounted solar system at its Mutual Gardens.

The solar plant will have an installed capacity of 650kW- which is enough to cover all the electricity needs for the entire office complex at any given time.

Sam Matsekete, the group chief executive, told stakeholders at the ground breaking ceremony that investment in solar energy will not only help in the fight against climate change, but will reduce the cost of doing business in the long run.

“As Old Mutual, we have challenged ourselves to find alternative ways of delivering value to our stakeholders, through innovation as required in our current environment.

“The Mutual Gardens Solar Project comes at the most appropriate and opportune time to shed off huge costs associated with diesel-powered generators and also push the green economy agenda which should be a stepping stone to sustaining future generations,” he said.

Matsekete said alleviating the burden on the national energy grid cannot be understated, and measures to address it is a must for any business.

“As a financial services player, we are also alive to the market’s expectations regarding driving and harnessing investments towards the alternative energy industry,” he said.

He noted that this realization was the compelling rationale behind the Kupinga Hydro Energy plant in Chipinge which the group commissioned in 2017.

Since inception, The Kupinga Hydro Energy plant is contributing 1.6MW of energy into the national grid.

Over the last two decades, calls for “Going Green” have been gaining momentum globally. According to Matsekete, today, the “Going Green” concept is now a central theme and a topical issue in most global government policymaking processes, United Nations’ gatherings and many other prominent international fora.

“When we look back as Old Mutual, we are proud to have championed this initiative on the local property landscape through the iconic and award-winning Eastgate Mall,” he said.

The group also generates 100kW of electricity from solar panels at its Eastgate Market which were incorporated in the design to power essential loads.

Matsekete highlighted that the whole works program of Mutual Gardens Solar Project will run for 25 weeks. “This means we should be able to commission this plant in August 2020.”