$2.8 Million has been Vitally signed: By Grid Africa as an Equity Investment from Rifuwo Energy Partners

By Abdul Rahman Bangura-

NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone–Grid Africa is ventured to strengthening solar energy solutions slated at mitigating the rising costs as grid electricity evolves expensive across the African continent. Currently, Eskom declared a 36% surge in tariffs to NERSA brandishing a substantial rise in overall energy costs, which is anticipated to particularly impact business customers.

According to Norman Moyo – CEO of Grid Africa, “The recent changes in energy security in South Africa present a unique opportunity for businesses to deploy more solar energy projects, providing a buffer against escalating energy prices. With decreasing costs in solar technology and lithium batteries, we can further enhance energy efficiencies and enable peak shaving for our clients, where they can avoid peak charges on the electrical grid.

Grid Africa recently expanded its operations into Zambia, a market currently facing significant challenges with load shedding. This expansion underscores Grid Africa’s commitment to providing reliable energy solutions across the region. Grid Africa remains dedicated to leading the charge in renewable energy development, ensuring that businesses can thrive despite the shifting energy landscape in South Africa.

Hope Tshepo Segone – CEO of Rifuwo Energy Partners, noted on the investment, saying, “Grid Africa aligns with our mission to drive a just transition towards a more sustainable future. We are excited to partner with an experienced and entrepreneurial team who have a proven track record in developing and maintaining hybrid projects in challenging environments such as Zimbabwe, Kenya, and Ivory Coast.”

The corporation has same confirmed a solar agreement with Huawei to implement 72 megawatts (MW) of sustainable solar power infrastructure tailored to cater to the energy needs of mines across Zimbabwe, at a critical time when power blackouts have led to a $500 million revenue loss for mining companies.

This partnership is scheduled to the pressure on the strained national grid, but also drive down operational expenses and ensure a steady and uninterrupted power supply, ultimately bolstering the operational continuity for the mining enterprises involved.

“By integrating solar solutions through this landmark collaboration with Huawei, we are poised to bring about a transformative positive impact on the mines in Zimbabwe,” said Norman Moyo, CEO of Grid Africa. “This initiative will not only optimize energy usage but also provide a sustainable power source that will enhance the operational efficiency and financial stability of the mining sector.”

Utilizing solar power within mining operations establishes multiple windfalls, encircling a reduced reliance on the national grid, substantial cost reductions, and increased operational resilience through a consistent power supply. A 72MW solar project could create approximately 1,152 to 3,744 total jobs (direct and indirect) while also contributing to foreign currency savings by offsetting power imports. Moreover, with Huawei being a global energy player, this partnership further underscores the integration of cutting-edge technological expertise and a steadfast commitment to sustainability on a global scale.

The 72MW solar agreement between Grid Africa and Huawei paves the way for a new era of sustainable energy solutions, setting a benchmark for companies committed to improving operational efficiency, championing environmental stewardship, and driving transformative change in industrial energy consumption.

Xia Hesheng, President of Huawei Digital Power Sub-Saharan Region, re-affirmed the firm’s commitment to sustainability and technological innovation saying, “We are excited to merge our solar expertise with Grid Africa to empower Zimbabwe’s mining industry with clean, dependable energy sources. This partnership highlights our dedication to driving sustainable progress, fostering long-term operational sustainability, and reshaping the industrial energy landscape in the region.”

New Africa Daily News Abdul Rahman Bangura Reports, Africa Correspondent