Nhimbe Fresh, one of Zimbabwe’s largest horticultural firms, has completed the construction of a 1,9 megawatts (MW) solar plant to power operations at  its estates in Marondera, about 80 kilometres east of Harare, chief executive Edwin Moyo said.

South African energy start-up Sun Exchange raised US$1,4 million in a crowd sale, so far the largest in Africa, after investors purchased individual solar cells in the project. In return, investors will earn a rental income from the electricity generated.

The crowd sale attracted nearly 2 000 buyers from the US, Europe, Australia and South Africa. Nhimbe Fresh is a premier African exporter of blueberries, raspberries, strawberries, stone fruit, snap peas, fresh vegetables and snow peas.

The firm is involved in tobacco and is expanding into avocado and macadamia production.

“Today Friday December 2, 2021, Nhimbe went green power,” Mr Moyo tweeted. “The 1,9 megawatt batteries were installed. (We are)…playing our part in reducing carbon emission and leave a safe environment for future generations.”

Electricity shortages in Zimbabwe have caused frequent power cuts, prompting some businesses to invest in solar energy. The shortages are largely resulting from recurrent breakdowns at the aHwange Thermal Power station with capacity of 920 MW.

The power plant, which will be commissioned on December 16, 2021 will power most of Nhimbe’s operations including park houses and cold store facilities, Mr Moyo said recently.

Sun Exchange said investors in the solar farm will earn a monthly income stream for 20 years, with an estimated internal rate of return of 16,71 percent in rand terms.

“This is the highest earning potential of any solar project run through the Sun Exchange platform to date,” Sun Exchange said in a statement. “To mitigate risk of local currency fluctuations, solar cells will be leased to Nhimbe Fresh at a USD-pegged fixed price.”

The introduction of continuous, reliable power, at a lower cost than running diesel generators, is forecast to reduce the Nhimbe Fresh facilities’ energy costs by more than 60 percent and carbon emissions by more than one million kilograms per year.

The solar project marks a number of other important firsts for Sun Exchange, including the first project with energy storage capacity. The three project sites will be integrated with 3,9 MWh of battery capacity, enabling Nhimbe Fresh to continuously operate on solar energy alone, alleviating the burden of grid outages and maximising earnings. It is the first US dollar-pegged, fixed lease price project.

Nhimbe is also set to commission a dam with a holding capacity of 900 million gallons. It is also constructing ozblu jullietta blueberry pump station and its Rukodzi’s farm, which will see the development of 200 hectares over the next five years.

The company runs an out-grower scheme, supporting 250 smallholder farmers who receive specialised training and support and gain vast access to export markets.

In preparation of the 2022 export season, Nhimbe had planned to hold an out-grower expo in Harare, but the event was cancelled due to a new threat of Covid-19 variant.