The Zimbabwe Energy Regulatory Authority has granted Zimbabwe Power Company a license to expand Hwange Power Station (HPS).
Under the deal, the Zimbabwe Power Company will get $1.17 billion or 80 percent of the funds for the plant through concessionary funding from China’s EximBank Limited. The same institution will also provide the balance at commercial rates.
The power generation license has now been given to Hwange Electricity Supply Company to build units 7 and 8 at HPS.
The new project is expected to start in the ‘final quarter of early next year’ and is expected to be completed within 42 months. When completed, the project will have added 600MW onto the grid.