Zimbabwe has unveiled an ambitious plan to mobilise over $9 billion to expand energy access and significantly boost renewable power generation. Presented at a London investor conference hosted by the World Bank and African Development Bank under their Mission 300 programme, the plan aims to more than double the country’s energy output from hydro, wind, solar, and biomass sources. This comes amid persistent electricity shortages that see daily power outages due to insufficient generation capacity.

Mission 300, launched in Tanzania in January, aims to provide electricity to 300 million people in sub-Saharan Africa by 2030. The region accounts for 83% of the global population without access to electricity—around 680 million people. Zimbabwe, where 38% of citizens remain without electricity as of 2024, is one of several nations showcasing electrification plans at the conference.

Zimbabwe’s plan is detailed in its National Energy Compact, authored by Energy Minister July Moyo. Due to the country’s 25-year default with multilateral lenders like the World Bank, it cannot access direct loans from them. As such, most funding must come from private investors.

The funding breakdown includes:

• $3.81 billion for power generation (90% private)

• $968 million for transmission (80% state-funded)

• $147 million for distribution (80% state-funded)

• $2.97 billion for on-grid access (100% government)

• $405 million for solar systems (70% private)

• $792 million for clean-cooking technologies (70% private)

Other countries presenting at the event include Ghana, Togo, Mozambique, and Burundi, building on commitments made by 11 nations—including Nigeria and the DRC—at the previous Mission 300 summit.