Zimbabwean President Emmerson Mnangagwa said Thursday his government will expedite implementation of new renewable energy projects to boost energy security.
Launching the National Renewable Energy Policy and the Bio-fuels Policy in the capital Harare, Mnangagwa said his government recognized that energy security was a key enabler of economic growth.
The renewable energy policy aims to achieve an installed renewable energy capacity of 1,100 megawatts or 16.5 percent of the country's total electricity supply by 2025 and 2,100 megawatt by 2030.
The Bio-fuels policy seeks to achieve consistent and sustainable ethanol blending of up to 20 percent by 2030 and introducing bio-diesel at a blending ratio of up to 2 percent by 2030, among other targets.
Zimbabwe is currently plagued by severe shortages of fuel and electricity due to shortage of foreign currency to import fuel while a drought and antiquated equipment has affected generation of power.
"While in the past, the rate at which renewable energy projects were being adopted and implemented was slow, there is now need to expedite projects roll-out as these will impact on our modernization and industrialization agenda," Mnangagwa said.
He said the launch of the two policies was expected to drive investment into the energy sector, adding that implementation of renewable energy projects would go a long way in assisting the country to attain Sustainable Development Goal number seven which seeks to ensure access to affordable, reliable, sustainable and modern energy for all.
Mnangagwa said renewable energy was a viable option given the current power shortages being experienced in Zimbabwe due to effects of climate change, among other factors.
"It is against this background that we are launching these two polices today as part of the broader effort to diversify our energy sources and increase investments into the energy sector," he said.
He urged local authorities to take advantage of the new policies to avail land for renewable energy projects.
"Equally, the financial services sector must develop financial products to facilitate the adoption and implementation of renewable energy projects," he said.
Turning to the bio-fuels policy, Mnangagwa said it came at an opportune time as the country was experiencing intermittent and limited supply of petroleum products.
"These challenges, coupled with instability in the pricing of petroleum commodities and speculative tendencies by retailers and consumers has seen us witnessing disturbing fuel queues which waste productive time," he said.
Editor:Cherie
