Harare – Listed crocodile skin producer, Padenga Holdings said it is expanding its solar energy projects as it seeks to offset the electricity the operation uses daily.
The development comes at a time the country is facing the worst power cuts in a decade following what the government says is a result of low damn levels at Kariba dam which houses the country’s largest power source.
In the wake of this, a number of companies among them construction and mining industries have been reporting a halt in production and manufacturing activities due to the inadequate supply of electricity through the national grid.
In a trading update to shareholders and analysts and for the five months to May 2019 on Wednesday, Padenga’s chief executive Gary Sharp said the company commissioned the first 330kWp phase of the solar array last week at the northern farms which is now feeding into the national grid to “offset the electricity the operation uses daily.”
“An additional 470kWp Solar array is complete and we are moving rapidly to commission that later this year,” Sharp said.
“The final 400kWp array to complete the planned 1.2MW installation will commence shortly for completion by year end.
This not only achieves a reduction in energy overheads but reinforces the Company’s commitment to sustainability through the application of alternative and renewable energy solutions.”
He also highlighted that although the company managed to reduce its capital expenditure in 2019, it continues to focus on the infrastructure that will improve skin quality, increase growth rates, enhance animal welfare and improve production efficiencies.
In Zimbabwe, telecoms services Group, Econet Wireless has been leading the initiative in solar power energy investments which does not only provide sustainable solutions to hydro-power but is also in line with global campaigns towards the adoption of clean and reliable energy.
Equity Axis News
Raynold Mhotseka is a Journalism and Media Studies student at the University of Zimbabwe. He serves as a news writer at financial research firm, Equity Axis where he is currently on attachment. He can be contacted through the following email links, firstname.lastname@example.org and email@example.com.