Chivayo secures R3bn Eswatini solar project

Zimbabwean businessman Wicknell Chivayo, through his Mauritius-registered company Intratrek Holdings, has secured a R3 billion (about US$182 million) agreement to develop a 300-megawatt solar power plant in Eswatini in partnership with Chinese energy company CHiNT Electric.

The project, which will be developed as an Independent Power Producer (IPP), follows Chivayo's recent grant of Eswatini citizenship and a diplomatic passport by Mswati III in recognition of what the kingdom described as his philanthropic work and commitment to supporting the country's development agenda.

According to the Eswatini government, the solar power station will be built on a 120-hectare site allocated by King Mswati III and is expected to significantly strengthen the country's electricity generation capacity.

The project is among the largest renewable energy investments announced in Eswatini and comes as the kingdom seeks to reduce its dependence on imported electricity.

Chivayo met King Mswati III twice in June. Their first meeting took place on 18 June at the Royal Palace in Ezulwini, where they discussed investment and infrastructure opportunities, before meeting again during a lunch engagement in Cape Town on 28 June.

In a statement confirming the investment, the Eswatini government said the discussions focused on renewable energy, infrastructure development and long-term investment opportunities.

"As a demonstration of his commitment to supporting the kingdom's developmental agenda, Mr Chivayo undertook, through his company Intratrek Holdings, headquartered in Mauritius, to invest R3 billion towards the development of a 300MW solar project in Eswatini as an IPP," the statement said.

The government added that the project is expected to improve the country's energy security while supporting industrialisation and long-term economic growth.

Eswatini currently has installed domestic generation capacity of about 76.5MW against peak demand of approximately 233MW, forcing it to import nearly 80 percent of its electricity from South Africa and Mozambique.

Chivayo, who was reportedly travelling in Dubai, confirmed the investment on his official Facebook page, expressing gratitude to Prince Lindani for facilitating his introduction to King Mswati III.

He also thanked the King for granting him Eswatini citizenship and a diplomatic passport.

"I equally reaffirmed my commitment as a proud citizen of the Kingdom and holder of a diplomatic passport to ensure that my promise to invest an average of R3 billion will definitely and gradually be fulfilled," Chivayo wrote.

He added that he hoped to invite King Mswati III to officiate at the groundbreaking ceremony once project agreements had been concluded.

CHiNT Electric's Vice General Manager for EPC Africa, Bill Han, confirmed the partnership, saying the company would serve as the engineering, procurement and construction (EPC) contractor while Intratrek Holdings would finance the project.

"Our arrangement entails Intratrek Holdings Mauritius being the 100 percent financier of the project, while CHiNT Electric will be the technical partner responsible for all the EPC works, relying on our extensive network, technical capability and engineering experience," Han said.

He said Eswatini presented an attractive renewable energy market due to its commitment to energy diversification and increased private-sector participation in electricity generation.

According to Han, engineering teams are currently undertaking grid impact assessments, power evacuation studies and interconnection analysis while discussions continue on finalising a Power Purchase Agreement with the Eswatini Electricity Company.

Subject to the completion of those negotiations, construction is expected to begin after a formal groundbreaking ceremony.

Han said the development would be implemented in phases, with the initial 15MW expected to be completed early next year.

The Eswatini government described Chivayo as a businessman, philanthropist and investor with interests spanning renewable energy, infrastructure, engineering and transport across Africa.

It also said he had committed more than US$200 million over the past year towards humanitarian and philanthropic initiatives benefiting communities in Zimbabwe and elsewhere on the continent.

The government said investments of this nature were expected to contribute to employment creation, infrastructure development, economic growth and stronger bilateral trade.

Founded in 1984, CHiNT Electric operates in more than 140 countries and provides smart energy solutions across the electricity value chain, including power generation, transmission, distribution, solar energy, energy storage and smart grid technologies. The company employs more than 50,000 people worldwide and reported revenue of approximately US$25 billion in 2025.