- Zimbabwe secures a US$310 million loan from the Exim Bank of India to rehabilitate Hwange Power Station.
- The rehabilitation is expected to improve the energy situation.
Energy and Power Development Minister Zhemu Soda reported that Zimbabwe had secured a US$310 million loan from the Export-Import Bank of India (Exim Bank). The loan is meant to rehabilitate six units at the coal-fired Hwange Power Station to restore its capacity to 920 megawatts.
The rehabilitation of the ageing thermal power plant would be done in three phases and was expected to begin during the first quarter of 2023.
The rehabilitation is expected to improve the energy situation for a country that has experienced rolling power cuts over the past two decades.
It comes at a time when incessant power shortages are hampering the government’s investment drive in the mining and manufacturing sectors.