Zimbabwe: Afreximbank to Fund Study for 1-Gw Floating Solar Project in Zimbabwe

African Export-Import Bank, or Afreximbank, has signed a heads of terms agreement to provide USD 4.4 million (EUR 3.80m) to support a 1-GW hybrid floating solar project on Lake Kariba in Zimbabwe.

The financing facility will be extended to Green Hybrid Power Private Limited to fund the bankability and feasibility studies for the project and the procurement of transaction advisers. It is expected to unlock an estimated USD 350 million in investment.

The plan is to build the solar park in two…