The Solar Energy Industries Association of Zimbabwe is to set up a renewable energy fund in conjunction with the government and other agencies. The fund will be used by companies and end users to establish solar projects.

The move is seen as being part of a drive by the solar industry to gain credibility in the light of scepticism from some financial institutions. The fund is looking for around $5.5 million.

Support for renewable energy is increasing in Zimbabwe, with over 40 companies now involved. The rising cost of electricity is making the use of renewable energy, particularly solar, more attractive, the association said.