Puma Energy invests US$30m to expand Zimbabwe operations, install green energy

Puma Energy says it plans to invest US$30 million over the next three years to expand its operations, looking to take advantage of growing demand for energy.

The company plans to expand its retail fuel network and storage facilities “in anticipation of the imminent surge in domestic fuel and energy consumption”. Puma will also install energy at its sites across the country.

“We are extremely confident about the future of Puma Energy Zimbabwe. This is evident in our plans to invest US$30 million in the country over the next three years to increase our storage capacity, open new service stations and introduce alternative energies such as LPG gas and solar solutions to the market,” Puma Energy Zimbabwe General Manager, Donatien Kodog said.

Puma targets to slash its greenhouse gas emissions by 15% by the end of 2025 and by 30% in 2032, targeting operational net zero by 2050. “Nineteen retail fuel stations are set to be solarised next year in Zimbabwe,” Puma says.

Puma Energy Zimbabwe operates storage facilities at international airports in Victoria Falls and Bulawayo, and work is underway to upgrade infrastructure and expand storage capacity at its Harare facility.

Zimbabwe consumed a total of 1,041 billion litres of diesel in 2022 from 850 million litres in 2021, according to the Zimbabwe Energy Regulatory Authority. Petrol consumption rose from 510 million litres in 2021 to 614 million litres in 2022. A total of 905 retail sites were licensed in 2022 compared to 882 in 2021.