Name: Victoria Falls Solar Power Station
Address: ZW

Overview

The Victoria Falls Solar Power Station is a 100 MW solar power plant currently under construction in Zimbabwe. This facility represents a significant addition to the country's renewable energy infrastructure, designed to feed electricity directly into the national grid. The project is being developed by Kibo Energy, an independent power producer (IPP) headquartered in Dublin, Ireland. Kibo Energy assumed control of the development after acquiring the assets and liabilities of the Victoria Falls Solar Power Station from its original owner, Broomfield International, another IPP, in March 2022. The acquisition was finalized for a consideration of £10 million, marking a strategic shift in the project’s ownership and development trajectory.

The power station is being constructed in distinct phases, with each phase comprising a capacity of 25 MW. This phased approach allows for a structured rollout of the total 100 MW capacity. According to the project timeline, the first 5 MW of the initial phase was expected to come online in April 2022. The operational status of the plant remains "under construction," indicating that while initial units may have begun generation, the full 100 MW capacity is still being realized. The development is supported by a ten-year power purchase agreement (PPA) signed between the owner/developer and the primary off-taker, the Zimbabwe Electricity Supply Authority (ZESA). This agreement secures the financial framework for the project, ensuring that the electricity generated by the solar farm is purchased by ZESA, thereby integrating the solar output into Zimbabwe's broader energy mix. The involvement of an Irish-based IPP like Kibo Energy highlights the international investment flowing into Zimbabwe's solar sector, aiming to diversify the national grid's reliance on traditional hydro and thermal sources. The project's location in Zimbabwe positions it to leverage the region's solar potential, contributing to the stability and growth of the local power supply. The transition from Broomfield International to Kibo Energy underscores the dynamic nature of independent power production in the region, with strategic acquisitions playing a key role in advancing large-scale solar infrastructure. The 100 MW capacity, when fully operational, will serve as a notable benchmark for solar energy generation in Zimbabwe, supported by the structured phasing and the secured off-take agreement with ZESA.

Development History and Ownership

The Victoria Falls Solar Power Station project originated under the development efforts of Broomfield International, an independent power producer (IPP) that initially secured the concession and began the foundational development work for the facility in Zimbabwe. The project remained under Broomfield’s ownership until a significant corporate transaction altered its operational trajectory in early 2022.

Acquisition by Kibo Energy

In March 2022, Kibo Energy, an independent power producer based in Dublin, Ireland, acquired the assets and liabilities of the Victoria Falls Solar Power Station from Broomfield International. This acquisition marked a pivotal shift in the project’s development phase, transferring both ownership and operational responsibility to the Irish-based entity. The financial consideration for this transaction was reported as £10 million, with some sources indicating an equivalent value of approximately US$13 million, reflecting the currency exchange rates at the time of the deal.

Year	Event	Financial Detail
Pre-2022	Initial development by Broomfield International	Concession secured
March 2022	Acquisition by Kibo Energy	£10 million (approx. US$13 million)

Following the acquisition, Kibo Energy continued the phased development of the 100 MW solar facility. The project is structured in phases of 25 MW each, allowing for incremental commissioning and integration into the local grid. The first phase, specifically the initial 5 MW segment, was targeted to come online in April 2022, shortly after the change in ownership. This rapid timeline underscored the urgency and strategic importance of integrating the solar capacity into Zimbabwe’s energy mix.

Power Purchase Agreement

To secure the financial viability of the project, the owner/developer entered into a ten-year power purchase agreement (PPA) with the Zimbabwe Electricity Supply Authority (ZESA), the primary off-taker for the generated electricity. This agreement ensures a stable revenue stream for Kibo Energy while providing ZESA with a reliable source of renewable energy to supplement the national grid. The PPA structure is typical for independent power producers in emerging markets, balancing risk between the generator and the utility provider. The collaboration between Kibo Energy and ZESA highlights the growing role of international IPPs in modernizing Zimbabwe’s energy infrastructure through solar investments.

Technical Specifications and Phasing

The Victoria Falls Solar Power Station is designed with a modular construction approach, dividing the total installed capacity into distinct operational segments. This phasing strategy enables the independent power producer to manage capital expenditure and operational ramp-up more effectively than a single-lift commissioning. The total capacity of 100 MW is achieved through the sequential completion of these four equal segments. Each phase represents a quarter of the total solar array, contributing to the overall energy output targeted for the Zimbabwean grid. The modular nature of the development allows for flexibility in engineering and supply chain management, which is critical for large-scale renewable energy projects in emerging markets. The design ensures that each 25 MW block can function independently while contributing to the aggregate output under the power purchase agreement.

Phase 1 Initial Commissioning

The first phase of the development focuses on the initial 25 MW segment. This early commissioning milestone serves as a proof of concept and initial revenue generator for the off-taker. The remaining 20 MW of the first phase is scheduled to follow, with expectations for completion by December 2022. This rapid initial rollout is designed to demonstrate operational viability and secure early cash flows under the ten-year power purchase agreement signed with the Zimbabwe Electricity Supply Authority. The swift transition from construction to partial operation highlights the efficiency of the development team in executing the first segment. The April 2022 target for the initial 5 MW marks the beginning of electricity generation for the national grid. The December 2022 deadline for the full first phase completion ensures that the majority of the initial capacity is operational within the first year of the new ownership structure.

Phase	Capacity	Key Milestones
Phase 1	25 MW	First 5 MW online in April 2022; remaining 20 MW expected in December 2022
Phase 2	25 MW	Subsequent segment of the 100 MW total
Phase 3	25 MW	Subsequent segment of the 100 MW total
Phase 4	25 MW	Final segment of the 100 MW total

Grid Integration and Location

The Victoria Falls Solar Power Station is situated in the Hwange District of Matabeleland North Province, Zimbabwe. The site is located in close proximity to the Victoria Falls region, leveraging the geographic advantages of the area for solar energy generation. This placement within Matabeleland North positions the facility in a key energy-producing region of the country, contributing to the diversification of Zimbabwe’s power mix beyond traditional hydro and thermal sources.

Grid Connectivity

A critical component of the project’s engineering design is its integration into the national transmission network. The solar farm is located within 1 km of the Hwange–Victoria Falls High Voltage Power Line. This strategic proximity significantly reduces the length of the collector system and minimizes transmission losses during the initial stages of power delivery to the grid. The connection to this high-voltage corridor allows for efficient evacuation of the generated electricity, ensuring stability and reliability for the off-taker.

The facility’s grid connection is formalized through a ten-year power purchase agreement (PPA) signed between the developer and the Zimbabwe Electricity Supply Authority (ZESA). ZESA serves as the primary off-taker, responsible for integrating the solar output into the broader national grid. This agreement provides revenue certainty for Kibo Energy, the current operator and independent power producer (IPP), while securing a steady supply of renewable energy for ZESA’s distribution network.

Geographic Context

The power station is located approximately 709 km (441 mi) from Harare, the capital city of Zimbabwe. This distance places the Victoria Falls Solar Power Station in the western part of the country, far from the primary load centers in the east. Despite this geographic separation, the robustness of the Hwange–Victoria Falls transmission link ensures that the energy can be efficiently transported to meet demand in Harare and surrounding industrial hubs. The location in Hwange District also aligns with other major energy infrastructure in the region, including the Hwange Coal Mining and Power Station, creating a concentrated energy corridor in Matabeleland North.

The development of the project in phases, with each phase contributing 25 MW to the total 100 MW capacity, allows for staged grid integration. This phased approach helps manage grid stability and allows for operational adjustments as each segment of the solar farm becomes active. The proximity to existing high-voltage infrastructure and the established PPA with ZESA underscore the strategic planning involved in siting the Victoria Falls Solar Power Station in Hwange District.

Commercial Agreements

This long-term contract secures the revenue stream for the 100 MW solar facility, providing financial stability for Kibo Energy as it completes the construction and phased commissioning of the plant. The PPA is a critical component of the project's bankability, particularly following the asset acquisition in March 2022, where Kibo Energy assumed the assets and liabilities for a consideration of £10 million from the original developer, Broomfield International.

Off-taker Structure: ZESA and ZETDC

The Zimbabwe Electricity Supply Authority (ZESA) operates as the overarching holding company for the country's power sector, but the specific operational entity responsible for the transmission and distribution of the solar energy is the Zimbabwe Electricity Transmission and Distribution Company (ZETDC). While the PPA is formally signed with ZESA, ZETDC serves as the primary off-taker, managing the integration of the 100 MW output into the national grid. This distinction is common in Zimbabwe's energy infrastructure, where ZESA acts as the parent authority while its subsidiaries handle specific operational functions such as generation, transmission, and distribution.

The agreement ensures that the electricity generated by the 100 MW capacity is purchased by ZETDC, thereby reducing the reliance on the state-owned generation arm and introducing independent power producer (IPP) efficiency into the mix. Kibo Energy, based in Dublin, Ireland, leverages this PPA to mitigate market risks associated with the Zimbabwean energy sector. The ten-year duration of the contract aligns with the initial operational phases of the project, which are being developed in increments of 25 MW each.

This commercial arrangement supports the broader energy strategy of Zimbabwe by diversifying the generation portfolio and reducing the burden on the national grid. The involvement of an international IPP like Kibo Energy, combined with the structured PPA with ZESA/ZETDC, demonstrates a strategic approach to attracting foreign investment into the country's renewable energy sector. The £10 million acquisition cost reflects the value placed on the secured off-take agreement and the strategic location of the plant near the Victoria Falls region, which offers favorable solar irradiance and grid connectivity options. The PPA thus serves not only as a financial instrument but also as a key enabler for the successful deployment of the 100 MW solar capacity in Zimbabwe.

Why it matters

The Victoria Falls Solar Power Station represents a significant addition to Zimbabwe's renewable energy portfolio, contributing 100 MW of solar capacity to the national grid. As a major independent power producer (IPP) project, it highlights the strategic role of international investment in stabilizing and diversifying Zimbabwe's electricity supply. The involvement of Kibo Energy, an IPP based in Dublin, Ireland, underscores the growing participation of European capital in Southern African energy infrastructure. Kibo Energy acquired the assets and liabilities of the project in March 2022 for £10 million from Broomfield International, which had initiated the development phase. This transaction reflects the dynamic nature of the regional energy market, where asset transfers between IPPs are common as projects move from development to construction.

Strategic Grid Integration

The project's location near Victoria Falls offers strategic advantages for grid integration. The area is a key node in Zimbabwe's transmission network, benefiting from existing high-voltage infrastructure that facilitates the efficient dispatch of solar power to major consumption centers. This phased approach mitigates risk and ensures steady power delivery as construction progresses.

Commercial Framework

This commercial framework provides revenue certainty for Kibo Energy while securing a consistent supply of renewable energy for ZESA. By locking in long-term offtake, the project enhances bankability and attracts further investment in Zimbabwe's solar sector. The collaboration between international developers and local utilities like ZESA is critical for accelerating the deployment of clean energy technologies across the region.

What are the key financial details of the Victoria Falls Solar Power Station?

The financial structure of the Victoria Falls Solar Power Station centers on the acquisition of its assets and liabilities by Kibo Energy, an independent power producer (IPP) based in Dublin, Ireland. The project was originally owned by Broomfield International, another IPP, who began its development. In March 2022, Kibo Energy acquired the assets and liabilities of Victoria Falls Solar Power Station, for consideration of £10 million. This transaction marked a significant shift in the project’s ownership, transferring control from Broomfield International to Kibo Energy.

Acquisition Cost and Investment Structure

The acquisition cost of £10 million represents the primary financial outlay for Kibo Energy in securing the Victoria Falls Solar Power Station. This amount covers the assets and liabilities associated with the project, which includes the ongoing construction of the 100 MW solar power plant. The investment by Kibo Energy is structured to support the phased development of the power station, with each phase comprising 25 MW. The first 5 MW of the first phase is expected to be online in April 2022, indicating a strategic approach to capital deployment and revenue generation.

This PPA provides a stable revenue stream for Kibo Energy, ensuring that the investment in the Victoria Falls Solar Power Station is backed by a long-term commitment from the primary electricity consumer in Zimbabwe. The PPA is a critical component of the financial structure, as it mitigates some of the risks associated with the construction and operation of the solar power plant.

The acquisition and subsequent investment by Kibo Energy reflect a strategic move to expand its portfolio in the African energy market. By acquiring the Victoria Falls Solar Power Station, Kibo Energy positions itself to benefit from the growing demand for renewable energy in Zimbabwe, particularly in the context of the country's efforts to diversify its energy mix and reduce reliance on traditional hydroelectric power. The financial details of the project, including the £10 million acquisition cost and the ten-year PPA, underscore the importance of strategic financial planning in the development of large-scale solar power projects.

Victoria Falls Solar Power Station