By Tinashe Kairiza
DISTRIBUTED Power Africa (DPA), an Econet subsidiary owned by telecommunications business mogul Strive Masiyiwa, will inject a US$10 million capital outlay to build a 10-megawatt (MW) solar plant that will meet the energy requirements of the Nyanza Light Metals titanium plant in neighbouring South Africa.
The Nyanza light metals plant, which has the capacity to process 80 000 tonnes of titanium dioxide annually, is being set up in the Richards Bay Industrial Development Zone (RBIDZ) at a cost of about US$30 million by a Zimbabwean-owned outfit Nyanza whose shareholders are DBF Capital and Arkein Capital Partners.
DBF — whose shareholders are founders of BancABC in Zimbabwe, namely Doug Munatsi, Beki Moyo and Francis Dzvanda — hold a 30% stake in Nyanza, while Arkein Capital Partners Donovan Chimhandamba, Rob Mhishi and Ian Cameron hold the controlling shareholding.
Documents seen by Standardbusiness, which spell out working terms of the synergy between DPA and Nyanza Light Metals, show that the multimillion dollar plant will be built in phases,with the first 1MW unit set to be commissioned in January.
Zimbabwean investment firms spooked by a harsh investment climate have spread their tentacles into the region, notably South Africa where Nyanza Light Metals has been awarded a stagering US$90 million in tax incentives for embracing renewable energy sources.
Nyanza Light Metals CE Donovan Chimhandamba said the 10MW solar plant will be built and run by DPA for 20 years as the minerals processing plant seeks to diversify its renewable energy sources.
The titanium dioxide producing plant requires 22MW to support its operations.
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“Our partnership with DPA marks a milestone in our green journey. Nyanza is a 21st century chemical production company that has from the outset been designed to use sustainable energy resources,” Chimhandamba said.
“The 10MW solar power plant will be built and operated by DPA in our Green Park in the RBIDZ.”
DPA CE Norman Moyo said his energy firm,which has interests in South Africa, Zimbabwe, Kenya, Zambia and Ivory Coast, among other countries on the continent, would offer low-cost energy solutions to support viable projects in Africa.
“We are excited to partner with innovative industry leaders such as Nyanza Light Metals on their green journey,” Moyo said.
“There is tremendous interest from commercial and industrial businesses in Africa for efficient energy solutions, and DPA is offering affordable and reliable energy security,’’ he said.
“We provide distributed energy to power our customers’ business operations, while saving them on operational costs as well as reducing their carbon footprint.’’
Under the agreement, Nyanza Light Metals will purchase power from DPA for 20 years to support their titanium dioxide producing plant.
Titanium dioxide is a key raw material used to manufacture cosmetics, dyes, paint and plastics.
Nyanza Light Metals has created close to 1 000 jobs at its titanium producing plant in Richards Bay.
