• About
  • Become a Climate Reporter
  • Send Us Your Report
  • Submit A News
  • Support Us
  • Privacy Policy
  • Contact Us
Saturday, July 12, 2025
NEWSLETTER
Africa Climate Reports
No Result
View All Result
  • HOME
  • CLIMATE CHANGE
  • SUSTAINABLE DEVELOPMENT
  • FOOD
  • FOREST
  • ENERGY
  • WASH
  • LAND
  • OTHERS
    • FINANCE
    • HEALTH
    • OCEANS
    • TOP STORIES
    • MOST POPULAR
    • COLUMNISTS
    • INTERVIEWS
    • OPINIONS
    • PHOTOS
    • VIDEOS
Africa Climate Reports
  • HOME
  • CLIMATE CHANGE
  • SUSTAINABLE DEVELOPMENT
  • FOOD
  • FOREST
  • ENERGY
  • WASH
  • LAND
  • OTHERS
    • FINANCE
    • HEALTH
    • OCEANS
    • TOP STORIES
    • MOST POPULAR
    • COLUMNISTS
    • INTERVIEWS
    • OPINIONS
    • PHOTOS
    • VIDEOS
No Result
View All Result
Africa Climate Reports
No Result
View All Result

Zimbabwean solar farm receives $52m guarantee

by editor
April 25, 2018
in ENERGY, FINANCE
0
Home ENERGY
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
Solar modules (PHOTO: AspireAfrica)
Solar modules (PHOTO: AspireAfrica)

Chinese electrical engineering group CHiNT Electric has committed a $52 million guarantee for the 100MW Gwanda solar farm.

The Chinese company said it is willing and ready to provide a guarantee covering 30% of the engineering, procurement and construction (EPC) aspect of the contract, reports the Herald.

Last month, it was reported that the solar project was not making progress due to the project developer being implicated in fraudulent and corruption charges.

Gwanda solar farm is part of a series of national strategic power projects envisaged to close the country’s acute shortage of power.

RelatedPosts

Bonn Climate Talks: Africa has eyes on $1.3 trillion climate finance roadmap

Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti

According to the media, the Chinese firm stated that upon receipt of the advance payment demand guarantee, ZPC is contractually obligated to effect payment equivalent to 30% of the EPC project cost.

Zimbabwe Power Company (ZPC), is the contractor of the project.

It is reported that the company’s Vice President, Dr Lin Bosheng, told the contractor, ZPC’s acting managing director Josh Chirikutsi that CHiNT wanted to make an advance payment guarantee and immediately after ZPC to release part of EPC funding.

Financial closure for Gwanda solar farm

According to the Herald, Dr Bosheng said this was provided for in clause 5b of the Contract Agreement for the project.

Implementation of the solar project is expected to receive a massive boost following President Mnangagwa’s State visit to China.

The company noted that arrears from previous State guaranteed projects had scuppered financial mobilisation and delayed the project. Read more: Gwanda solar project not making progress

“In addition to the efforts by our counterpart to secure funding locally and the achievement of financial closure, we will assign CHiNT to obtain an advance payment demand guarantee provided for in terms of Clause 5b of the (Gwanda solar farm EPC) contract agreement.

“The advance payment by ZPC will be accordingly utilised for, among other purposes, funding the facility costs and fees. The advance payment will also be used to complete any outstanding works in anticipation of the commencement of the EPC contract once financial closure has been reached,” Bosheng wrote to ZPC.

Tags: EnergyFinanceRenewable EnergyZimbabwe
ShareTweetSendShare
editor

editor

Related Posts

Bonn Climate Talks: Africa has eyes on $1.3 trillion climate finance roadmap
CLIMATE CHANGE

Bonn Climate Talks: Africa has eyes on $1.3 trillion climate finance roadmap

July 4, 2025

by Kofi Adu Domfeh Many developing countries, particularly in Africa, are proposing more ambitious climate targets as they prepare to...

Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti
BREAKING NEWS

Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti

July 4, 2025

By Ken KOUTCHAKPO The Technologies for African Agricultural Transformation (TAAT) programme will play a central role at the Djibouti Agribusiness...

Next Post
Cocoa Eco Project targets carbon sequestration from farms in Ghana

Can developing countries leapfrog the West to a new food security reality?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Bénin : Les fleuves et rivières sous la menace du changement climatique

Bénin : Les fleuves et rivières sous la menace du changement climatique

1 week ago
Bénin : Têgon face au défi de la préservation de la biodiversité

Bénin : Têgon face au défi de la préservation de la biodiversité

1 week ago
Le Fâ, une des solutions pour prévenir les risques climatiques

Le Fâ, une des solutions pour prévenir les risques climatiques

1 week ago
Bonn Climate Talks: Africa has eyes on $1.3 trillion climate finance roadmap

Bonn Climate Talks: Africa has eyes on $1.3 trillion climate finance roadmap

3 weeks ago
Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti

Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti

1 month ago
Agribusiness Forum Djibouti: TAAT at the heart of agricultural transformation in Djibouti

Agrobusiness Forum Djibouti : TAAT au cœur de la transformation agricole à Djibouti

1 month ago

Popular News

    Social Media

    ABOUT US

    Africa Climate Reports is Africa’s first and largest bilingual journal dedicated to opening new vistas in the coverage and reportage of climate change and the region’s environment. With a multi-lingual team of talented reporters from across the continent, we tell the African climate story in a refreshingly lucid, communally engaging and technically robust manner.

    SITE LINK

    • About
    • Advertise
    • Careers

    OTHER LINKS

    • About
    • Become a Climate Reporter
    • Send Us Your Report
    • Submit A News
    • Support Us
    • Privacy Policy
    • Contact Us

    NEWSLETTER

    Be the first to get notified when we have something new to share. Get Africa Climate Reports newsletter directly into your email.
    we promise not to spam you!
    • About
    • Advertise
    • Careers

    © 2024 All Rights Reserved- Africa Climate Report - Designed by Prexy

    No Result
    View All Result
    • HOME
    • CLIMATE CHANGE
    • SUSTAINABLE DEVELOPMENT
    • FOOD
    • FOREST
    • ENERGY
    • WASH
    • LAND
    • OTHERS
      • FINANCE
      • HEALTH
      • OCEANS
      • TOP STORIES
      • MOST POPULAR
      • COLUMNISTS
      • INTERVIEWS
      • OPINIONS
      • PHOTOS
      • VIDEOS

    © 2024 All Rights Reserved- Africa Climate Report - Designed by Prexy