Govt Secures a $42.5 Million Loan for Power Generating Projects – Report

Last updated on September 11th, 2021 at 03:30 pm

The government of Zimbabwe has secured a combined $42.5 million loan from an Indian bank for power generation projects the Herald reports. The Export-Import Bank of India provided a $23 million dollar loan for the expansion of the Bulawayo Thermal Power Station and a further US$19,5 million, which will be used to finance Phase II of Deka Pumping Station and River Intake System.

This comes at a time were power generation at all the power plants in Zimbabwe has declined to less than 700 MW against a demand of around 1800 MW. Kariba, the largest power plant in the country right now was generating less than 300 MW against a capacity of 1050 MW.

Power cuts have been the order of the day since May with ZESA confirming last week that they had reverted back to phase 1 after managing to strike a deal with South Africa’s Eskom.