- Zimbabwe is preparing to commence construction on a 600 MW floating solar power plant on Lake Kariba, the world’s largest artificial lake and reservoir by volume, located on the country’s northern border with Zambia.
The Kariba floating solar project will be rolled out in three phases over a five-year period. The first phase, with a capacity of 150MW, is scheduled to begin in the second quarter of 2026.
Businessman Mr. Eddie Cross’s company, Green Hybrid Power Private Limited, is the developer of the project. The company recently signed a heads of terms for a US$4.4 million project preparation facility with Afreximbank. This facility is specifically intended to finance essential preparatory work. The funds will support bankability and feasibility studies, as well as the engagement of transaction advisers. Read more
Speaking to local media, Anxious Masuka, Minister of Lands, Agriculture, Fisheries, Water and Rural Development, highlighted that the project will have a minimal footprint, covering approximately ten square kilometers or around one percent of the lake’s surface area.
“The Kariba floating solar power plant is a novel development for Zimbabwe. It will be the country’s first floating solar installation and experts have confirmed that solar panels perform more efficiently on water than on land,” said Minister Masuka.
The total cost of the project is estimated to range between US$550 million and US$650 million. Minister Masuka added that, once operational, the plant could generate up to US$4.7 billion in economic value, contributing close to ten percent of Zimbabwe’s GDP.
The initiative will be financed through private sector investment, following expressions of interest from investors. Earlier this year, the African Export-Import Bank committed US$4.4 million to support bankability and feasibility studies for the project.
Completion of the project is targeted for 2031. Minister Masuka noted that the success of Kariba could pave the way for similar solar developments at dams across the country. He also emphasised that the project will require approval from the Zambezi River Authority, the bilateral organization jointly managed by Zambia and Zimbabwe that regulates and maintains Lake Kariba.
Author: Bryan Groenendaal
