The Zimbabwe Power Company (ZPC) has secured US $116m from regional financial institutions to go towards its equity contribution for the expansion of Hwange Thermal Power Station.
ZPC’s equity contribution was one of the major conditions that were stalling the financial closure of the $ US1.1bn project to be carried out by a Chinese company, Sino hydro. ZPC signed a contract with Sino Hydro to expand Zimbabwe’s largest power plant by additional an 600 MW. This comes as the country seeks to increase power generation and reduce imports.
The funding will enable ZPC to add to 2x300MW generators, commonly referred to as Hwange 7 and 8 to increase power output from the country’s biggest thermal power plant.