Overview

Ravensus (Private) Limited, is developing a 50MW AC utility-scale solar PV plant with battery storage on a 3,000-hectare site at Kranspoort Farm, Shangani, Insiza District, Matabeleland South. Phase 1 is the first stage of a planned 100MW facility. The Sponsor is a Zimbabwean SPV owned by Raven Energy, Sustenergy and Amanzi Corp.

Development status: shovel-ready:

– IPP Generation Licence GC0145/2023 (ZERA, valid to 2048);
– 20-year, USD-denominated PPA with the Intensive Energy User Group (IEUG) at USc 9/kWh on a capacity-delivery basis, ZERA-approved;
– SAPP participation approved for surplus power;
– ESIA complete; EMA certificate and Insiza RDC approval in place;
– 50-year notarial lease over the site;
– Qualifies for Zimbabwe’s BOOT tax regime (0% corporate tax years 1–5, 15% years 6–10)/

Technology:

– GCL 705–730W TOPCon bifacial modules on single-axis trackers;
– CATL EnerX battery energy storage system (56.44 MWh);
– EPC by GCL, with Jecca Engineering handling construction and O&M;
– Expected P50 yield of 118,850 MWh/year (~27% plant load factor);

Commercial model:

50W is contracted to IEUG under the PPA, giving a stable USD revenue base. Excess power plus battery discharge, is sold into the SAPP Day-Ahead Market. The battery lets the plant shift energy into higher-priced peak periods, which adds regional cross-border revenue upside. A Catalytic Floor Price Guarantee on SAPP sales is under discussion with RELP to de-risk this merchant revenue.

Financing sought:

– Total project cost is US$60 million, including the BESS, structured 80/20 as –
*Senior debt (US$48m): open to competitive senior debt offers
*Equity (US$12m): open to ordinary equity, preferred/structured equity, or an equity bridge facility

Impact:

-Climate – 116,000 tCO2e avoided per year (indicative, using the SAPP grid emission factor of 0.98 tCO2/MWh), or 2.2 million tCO2e over the PPA term. A carbon credit pathway is being explored;
– Energy security – adds firm, dispatchable clean power to a grid constrained by coal and drought-affected hydro, supplying energy-intensive industry and the regional power pool. Currently region is set to experience El Nino induced drought;
– Economic – construction and O&M jobs in a rural district, local contractor participation, and long-term tax and income.

Why AGES:

Licensing, offtake, grid access and land are all secured, so Shangani is an investment-ready project. We are seeking debt and equity partners to fund the US$60m capital requirement and reach financial close in the near term.

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