ZIMBABWE seeks US$9billion investment towards electricity generation projects to meet the country’s energy demands by 2030, with 70% expected to come from the private sector.
Energy and Power Development minister, July Moyo, said the country has a target to generate 5432 megawatts by 2030 with 2640 coming from renewables.
Moyo said the mining sector has emerged as the major consumer of electricity, requiring an additional 2000MW this year alone to meet expansion targets.
“Zimbabwe is experiencing an unprecedented mining renaissance,” Moyo said in his address during the 2025 Africa Down Under Mining Conference held in Perth, Western Australia on Friday. “Our mining boom is an energy opportunity, and our energy transformation is an investment gateway.
“We invite you to come and invest and build power plants next to mines, establish beneficiation hubs next to mineral deposits, and create regional energy corridors that power the future of African industry.”
Moyo said a number of mining giants were now co-developers of energy infrastructure, investing in generation to meet their operational needs as the country struggles to generate enough to meet demand.
He cited Zimplats which is rolling out a 185 MW solar power project, one of the largest private renewable energy initiatives in Southern Africa.
Caledonia Mining’s Blanket Mine has commissioned a 12.2 MW solar plant, cutting reliance on the grid and stabilising operations.
Turk Mine is producing power from a 4.4 MW solar farm. At Manhize, Africa’s largest steel plant, Dinson Iron and Steel Company has developed an internal generation capacity of 50 MW, with plans to expand further and export surplus power.
“These are not isolated projects – they represent a shift towards captive power generation, hybrid energy solutions, and surplus integration into the national grid,” Moyo said.
“Our energy strategy is not limited to mining sites.Our broader renewable energy agenda includes.
Kariba floating solar project, Pomona Waste-to-Energy Project (22 MW), large-scale solar parks in Matabeleland, Midlands, and Mashonaland West.” Moyo said Zimbabwe has set a target to become a future energy hub of southern Africa. “We are not just seeking financiers; we are inviting partners who will bring capital, technology, and expertise to co-create the energy and mining ecosystem of the future,” he said.
Zimbabwe continues to face serious electricity shortages despite massive investments at the Hwange thermal power station and Kariba hydropower station, partly because of recurrent droughts.