Diversified energy group, Puma Energy Zimbabwe, has unveiled plans to invest a staggering $30 million over the next three years in the development of new service stations, reaffirming its commitment to the country’s progress.
The company’s Managing Director, Daniel Duffau, revealed in a recent interview that Puma Energy Zimbabwe, which already boasts a network of 71 service stations, will allocate $10 million annually to expand its outlets to a total of 92, making it one of the largest networks in Zimbabwe.
“We have a plan to invest up to $10 million per year to increase by an average of seven new service stations each year for the next three years,” Duffau announced during the sidelines of an air show held in Harare last Saturday.
In addition to its expansion plans, Puma Energy Zimbabwe aims to embrace green energy, a growing trend as countries worldwide strive to combat climate change and shift away from fossil fuels. The company intends to invest in independent hydroelectric power facilities and solar-powered electricity installations, aligning its strategy with the country’s energy policy, which encourages such investments.
This movement towards green energy has attracted players from various sectors, including financial services giant Old Mutual and mining companies like Caledonia, which have established their own green power facilities.
Puma Energy Zimbabwe’s airshow(Lovejoy Mutongwiza)
Puma Energy Zimbabwe will follow suit by installing solar power facilities at its service stations, a move that will be vital in addressing the persistent power outages in the country. Some experts estimate that these blackouts could cost the economy a staggering $4 billion this year.
Duffau emphasized the significance of Puma’s solar power strategy, stating, “We have a big development plan on what we call new energy, where, for instance, we developed solar power generations. We have started to solarize our own service stations, and we are also proposing solar solutions to our private and industrial customers.”
In addition to its focus on green energy, Puma Energy Zimbabwe aims to promote the use of liquefied petroleum gas (LP gas) as an alternative to electricity, which has been plagued by reliability issues in Zimbabwe. LP gas has gained momentum in the country and is widely utilized for industrial, domestic, commercial, and farming purposes.
Puma Energy Zimbabwe also made a foray into the aviation fuel market in October 2014, catering to airlines, aircraft owners, and operators. With the capability to supply fuel to major airports, including Robert Gabriel Mugabe International Airport, Charles Prince Airport, Joshua Nkomo International Airport, and Victoria Falls International Airport, the company is well-positioned in the aviation sector.
“As Puma Aviation, we are present in four airports in Zimbabwe… We supply the commercial aviation sector and private planes,” Duffau explained, highlighting their commitment to the aviation industry.
Puma Energy entered the Zimbabwean market in November 2013 through the acquisition of 60% of the ordinary shares of Redan Petroleum, a local fuel supply business. Earlier this year, the company further solidified its presence by opening a diesel storage facility in Bulawayo with a holding capacity of one million litres, ensuring an uninterrupted fuel supply in the southern region of the country.
Puma Energy Zimbabwe’s ambitious investment plans and embrace of green energy demonstrate its dedication to fueling Zimbabwe’s development and meeting the nation’s energy needs while addressing environmental concerns.
