Zimbabwe is finalising the paperwork for the equity and debt arrangements required for the $1 bn extension of Hwange Thermal Power Station, as part of the drive to meet the country’s rising demand for power.
Hwange Electricity Supply Company (private) Limited (HESCO), a subsidiary of Zimbabwe Power Corporation (ZPC), will be a majority owner and operator, as a PPP joint venture with Sinohydro of China. Currently, Subscription and shareholder agreements between ZPC, HESCO and Sinohydro of China are in the process of being finalised.
Once finalised, the extension of Hwange Thermal Power Station is expected to add 600 MW to the national grid.
Power cuts are a common occurrence for business and ordinary citizens. Together with political uncertainty. Shortage of power is said to have negated all the relative gains that Zimbabwe made after the government of national unity brought a semblance of stability.