admin
Energy and Power Development Minister Elton Mangoma said Zesa has been given the green light to have the shortlisted bidders prepare their schemes.
The proposals should contain detailed engineering designs and funding structures.
The State Procurement Board shortlisted 11 investors bidding to finance the expansion of Kariba (hydro) and Hwange (thermal) power stations.
“Five firms were shortlisted for Kariba and six for Hwange. They have been given three months to prepare their financing schemes and this should be done by June,” said Minister Mangoma.
The project is estimated to cost about US$1,3 billion, according to Zesa, and bring 900 additional megawatts onto the national grid.
Zimbabwe is struggling to end a debilitating power crisis that has spawned rolling power cuts and costly electricity supply interruptions.
Zesa produces an average 1 600MW against the 2 200MW demand. It augments locally produced electricity with imports from Mozambique, Zambia and the DRC.
HATCH Africa was appointed technical advisors, while accountants KPMG were contracted as financial advisors of the project.
To address the power shortages, the Government is pursuing a number of projects, including Sengwa Power Station in Gokwe and the Batoka Hydro Project on the border with Zambia.
Plans are also afoot to develop the Lupane coal bed methane gas project in Matabeleland.
Zesa has suffered from non-payment of bills with consumers owing the power utility about US$450 million.
Two weeks ago, Zesa intensified disconnections to force defaulters to pay up.
Online Reporter