Grid Africa has secured a significant equity investment of $2.8 million (R50 million) from Rifuwo Energy Partners pivotal in advancing renewable energy projects across South Africa at a crucial time as the nation braces for a rise in energy costs.
Grid Africa is committed to developing solar energy solutions aimed at mitigating these rising costs as grid electricity becomes expensive across the continent. Recently, Eskom announced a staggering 36% increase in tariffs to NERSA signaling a substantial hike in overall energy costs, which is expected to particularly impact business customers. In light of this development,
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, commented 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 firm has also announced 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 US$500 million revenue loss for mining companies.
This partnership is expected to alleviate 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.”
Using solar power within mining operations promises multiple benefits, including 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.
Mr. Xia Hesheng, President of Huawei Digital Power Sub-Saharan Region, reiterated the company’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.”