The Zimbabwe Stock Exchange (ZSE) has turned to solar power after recently completing a solar plant with a power generation capacity of 40kilo-volt-amperes(KVA).
The adoption is the companies way of moving towards a cleaner , affordable and reliable source of power.
Previously the ZSE had to rely on diesel powered generators in cases of power cuts , but the new switch energy will harbour no disruptions to service provisions.
The solar plant was commissioned on Monday by the companies board chairperson Caroline Sandura.
In a statement ZSE said, “The Zimbabwe Stock Exchange Limited (“ZSE”) is pleased to inform stakeholders on the commissioning of its solar plant with a power generation capacity of up to 40KVA.The overall objective of the solar project was to move towards a cleaner, affordable and reliable source of power given the need to keep trading servers continuously up.”
Whilst the country faced electricity challenges and load shedding hours , ZSE alternated to other means of power supply which were however expensive.
“ The ZSE had to heavily rely on on diesel powered generators as a fall back when electricity is unavailable , a costly and environmentally unfriendly strategy.”
“Adopting the solar energy route is in line with the ZSE commitment to sustainable practices. The ZSE has been a member of the United Nations Sustainable Stock Exchange Initiative since 2015 and in 2019 it adopted sustainability disclosure requirements in its listings requirements,” ZSE said.
ZSE looks forward to annual savings of USD42,OOO through the turn to solar power .
The power cuts could have pushed a number of organisations , companies to make a switch while Liquid telecom made a switch to solar energy last year , with Schweppes commissioned a 1MW solar plant last year and in that same Econet commissioned a 466 kilowatt plant.