MISA Group, a Geneva-based investment group, is leading the development of the Guruve-Mazowe (Chikonyora) hybrid renewable energy project in Zimbabwe. MISA is developing the project through its renewable energy company, Modaso Energy, in partnership with Zimbabwean developer, Tatanga Energy. Once built, it will be Zimbabwe’s first utility scale wind farm and the first project to combine wind, solar, and battery storage on one site at a utility scale in sub-Saharan Africa (excluding South Africa) with the national utility as a key offtaker.

Guy Hacking, CEO of MISA Group, commented: “There is no shortage of renewable resources in Africa, but there is a shortage of electrons at the right place and the right time, and of bankable, high-quality projects. At MISA Group, alongside our hybridised solutions delivered through Modaso Energy, we’re changing that. Everything we build is done in partnership, whether within MISA Group or with third parties. The Guruve-Mazowe hybrid renewable energy project demonstrates this: Tatanga Energy has developed a well-designed, high-quality project, but there was a huge opportunity for us to partner with them and add the technical, hybrid expertise of Modaso Energy while also putting MISA Group’s balance sheet and banking connections to work. With Modaso, we have a pipeline of over 1 GWh of renewable projects that sit behind this initial project, powered by our firm belief that Africa is not under-resourced, it is under-invested – and we exist to change that.”

The project represents an estimated US$300 million of investment. It combines 128 MW of wind, 100 MWac of solar photovoltaics (PV) and a 50 MW/100 MWh battery behind a single 100 MW grid connection. It is expected to deliver around 550 GWh of electricity a year, roughly 5% of Zimbabwe’s current annual generation, over a 30-year operating life.

Standard Bank has been mandated as lead arrangers for the project debt, and the debt term sheet has been agreed. ZESA, the national utility, is set to be the project’s primary offtaker. Negotiations on the power purchase agreement (PPA) and use of system agreement are in progress. Africa GreenCo, through its Zimbabwean subsidiary, Zim GreenCo, has also signed heads of terms to buy a share of the plant’s output under a long-term contract. Additional output may be sold into the Southern African Power Pool (SAPP).

Wind and solar peak at different times of day. By pairing them with storage, the plant fills the midday gap in wind output and moves surplus energy into the morning and evening peaks, when national demand is highest. The design gives an average grid capacity factor above 65% (final configuration still under optimisation), significantly better than that of wind or solar alone, and around 40% more energy from the same grid connection.

For investors, that means more revenue from the same grid capacity and a delivery profile that the system operator can plan around. Output is independent of rainfall and Kariba water levels, giving Zimbabwe drought-resilient supply alongside its hydro and thermal fleet.

Ramy Lotfy, Co-Founder and CEO of Modaso Energy, noted: “Our mission at Modaso is to enable innovative hybrid developments that maximise the stability of power and utilisation to benefit communities, government, investors, and offtakers alike. This project is an example of what true partnership can achieve. Backed by our parent company, MISA Group, we have worked with Tatanga Energy to convert this from a single-source project to a commercially viable hybrid project, and together we’re excited to move this project into its next phase as we seek financial close in 2027.”

Zimbabwe’s peak electricity demand is forecast to rise from around 1950 MW today to 5177 MW by 2030 (World Bank projection), driven mainly by mining, agriculture, and the national goal of universal access. The National Renewable Energy Policy targets 2100 MW of renewable capacity by 2030. Guruve-Mazowe alone would supply around 11% of that target, funded entirely by private capital.

Ahead of financial close, the project de-risking includes:

  • Nearly five years of continuous on-site wind measurement, the longest record in Zimbabwe, with a final campaign to international bankability standards running to September 2027.

  • Debt term sheet agreed with the mandated lead arrangers; non-recourse project finance geared up to 70%.

  • Environmental certificate granted for the wind farm; Ministry of Lands land-use approval secured; and conditional Southern African Power Pool (SAPP) market licence received.

  • Budgetary EPC tender completed with shortlisted international consortia.

  • Environmental and social work being taken to International Finance Corp. (IFC) Performance Standards, to allow development finance participation.

Financial close is targeted for mid-2027, subject to concluding these agreements and the remaining licences. Construction would start immediately after, with commercial operation targeted for 2029.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

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