State of the Energy Sector in Zimbabwe- full ministerial statement

Renewable Energy Policy and Biofuels policies

These policies have been submitted to Cabinet for approval. Primary objectives of the Renewable Energy Policy include setting of overall targets for renewable energy, promoting investment in the renewable energy sector by providing specific incentives; providing National Project Status to all the renewable energy projects, recommending of Prescribed Asset Status for renewable energy projects and specific incentives for promoting third party sale of power.

In conclusion, as articulated above, it important that we must have an effective corporate governance framework for all the players that are in this field. Significant investment is required in Zimbabwe’s Power and fuel sector in order to make the country self sufficient and thereafter export energy products. My Ministry welcomes investment in this sector and will continue to work on policy frameworks to make the investments viable, but of importance Madam Speaker is the fact that we would like all information that investors would need in order to decide to invest in this sector to be publicly available together with the attendant incentives.

Lastly, service delivery in energy sector like the other sectors of the economy is also severely affected by foreign currency challenges. Going forward we expect to see a highly disciplined sector that is regulated properly with provisions of a self regulation where that is applicable. I thank you.

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