ZESA Needs $500 Million for Hwange Power Station Revamp
The Zimbabwe Power Company (ZPC), a subsidiary of ZESA Holdings, has dropped a bombshell: they are gunning for a jaw-dropping $500 million to breathe new life into Hwange Power Station Units 1 to 6.
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This repowering program is slated to take a marathon four to five years to complete.
ZPC's general manager, Shepherd Mukundu, spilled the beans during a recent chat with the Parliamentary Portfolio Committee on Energy. They have already snagged a cool $50 million to kick-start the project. They are cozying up to the Exim Bank of India, who is about to play financier for this electrifying initiative.
The funds will roll in like a double-decker bus—two tranches, to be precise. The first chunk will be a whopping $310 million. The second, a cool $110 million, originally earmarked for Bulawayo Power Station.
ZESA Needs $500 Million for Hwange Power Station Revamp
ZPC is not twiddling their thumbs. Nope, they've dipped into their piggy bank at Stanbic, scoring a sweet $50 million to jumpstart the repowering process. Why? So that when Exim Bank of India finally coughs up the big bucks, they won't be caught napping.
The Units 7 and 8, the new kids on the block, are churning out 600 MW. But the OGs—Units 1 to 6 are cranking out a measly 420 MW.
Mukundu' said their solution is to repower yhe Units 1 to 6. It's like reviving a vintage car. They are trying to keep the engines running at full tilt, even though the units seen better days.
ZPC are raiding their own treasure chest to fund this power-packed adventure. Their revenues might be doing the limbo, but they are committed to keeping the lights on. They are shelling out $5 million for spare parts.
