Miners Going Green: RioZim Energy Division Secures IPP License

Author Name
Rugare Mukanganga
Author
Stock Market 6 months ago

ZSE-listed mining Group RioZim has stepped-up renewable energy generation efforts in its search for portfolio diversification.

The Group's 178MW solar project has secured an Independent Power Producer license (IPP) from the 🇿🇼 Energy Regulatory Authority (ZERA) and continues to enage with industry experts in its hunt for an energy procurement & construction (EPC) partner. Power Purchase Agreement discussions with local Electricity Transmission and Distribution Company (ZETDC) are reported to be progressing well, with expectations of deal finalisation in the coming finacial year. 

Phase 1 of the Group's 2800MW Sengwa Power Station remain on-hold, following operational and investor-side uncertainties due to the Covid-19 pandemic. 

The operational updates were publicised in the Group's recently released year-end financial results following a ZSE result publication deadline extension by the local bourse.

RioZim shares ended the 2020 financial year at 1495.19

 


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