Zimbabwe: Solgas obtains financing for 5MW solar plant

Issue 396 - 12 Jul 2019
Independent power producer Solgas Energy says it has secured $7m for the construction of a grid-connected 5MW solar plant at Cross Mabale in Hwange and expects to complete construction by December. Solgas Energy chief financial officer Tafadzwa Mundicha said the company reached full financial close in February 2018 but had struggled to access foreign currency from the Reserve Bank of Zimbabwe until government abandoned the local RTGS currency’s 1:1 parity with the US dollar in February this year.

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