A ZIMBABWE firm, Oxygen Group, which deals in venture partnerships and business advisory, has entered into a joint deal with a Switzerland-based entity Meeco Group to promote and develop the use of solar energy in the country.
The development is expected to curb power supply problems as Zimbabwe is facing low generation capacity largely due to a shortage of funds to initiate new power-generation plants.
Oxygen group, executive director Simba Mhuriro disclosed to Southern Eye Business yesterday his firm recently signed a memorandum of understanding (MoU) with the Meeco Group.
“The MoU was signed in Dubai on May 30 by representatives of both parties and is already effective,” Mhuriro said. “The role of the Meeco Group, within the framework of the MoU, is to provide its solar energy solutions such as sun2go, sun2water, sun2live as well as smart hydro solutions while the Oxygen group will support the Meeco Group through its high expertise and knowledge of the Zimbabwean market.”
The official said the Oxygen Group is one of the biggest market participants in Southern Africa, focusing on business advisories and venture partnerships.
He said the Oxygen Group helps international companies to expand their business in the Zimbabwean market.
Frédéric Genoud, sales representative in charge of Business Development for Africa of the Meeco Group said the MoU would support the company’s expansion in Zimbabwe and even beyond the borders of the Southern African State.
“With its local expertise and its high value professional network, the Oxygen group will provide a remarkably important support to the Meeco Group that will facilitate its implantation across the Zimbabwean market,” Genoud said. “This market has a great potential as the State and the stability of the grid-connected installations have a lack of efficiency.”
Mhuriro said the Zimbabwean geographical situation was ideal for solar energy development due to its level of radiation, which is actually one of the highest worldwide.
He said Zimbabwe’s population ratio connection to the grid represented only 41%, which explained the demand by the population for diesel in order to power generators.
“With its new programme called ‘The Food and Nutrition Security Programme, the
government of Zimbabwe will also contribute to a large amount ofrenewable energy projects from solar and hydro energy to
pumping energy and water treatment in the remotest locations,” he said.
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