Zimbabwe and Zambia are holding a summit in Victoria Falls to attract investors for renewable energy projects. Prolonged droughts have dried the Kariba Dam reservoir, causing severe power cuts and exposing the risks of overdependence on hydropower.
Officials stressed the need to invest in solar and wind energy. Zimbabwean Vice President Constantino Chiwenga noted the region’s abundant sunlight as a key asset for building solar farms to boost energy security and enable exports.
The countries are also exploring floating solar panels on Lake Kariba to offset reduced hydroelectric output. Zambia plans to fund renewable projects through increased copper production, targeting 3 million metric tons annually by 2035.
European Union Ambassador Jobst von Kirchmann and British Trade Commissioner John Humphrey called for policy stability. They emphasized the need for predictable monetary and legal systems to attract long-term renewable energy investments.
Concerns over Zimbabwe’s multicurrency policy have raised alarm among investors. Officials said ensuring economic and policy stability is crucial to driving investment and positioning the region as a renewable energy leader.
