Zambia, Zimbabwe Pledge $440M for Batoka Gorge Project

Zambia and Zimbabwe have
each committed $220
million
in
equity
to
revive
the
Batoka
Gorge
Hydropower
Project
–
a
$4.2
billion,
2,400
MW
cross-border
facility
planned
on
the
Zambezi
River
near
Victoria
Falls.

The
combined
$440
million
commitment
is
designed
to
strengthen
the
project’s
bankability
and
attract
private
capital.
Once
completed,
the
plant
will
supply
1,200
MW
to
each
country,
reinforcing
national
grids
and
contributing
power
to
the
Southern
African
Power
Pool.

A
joint
council
of
ministers
has
approved
the
establishment
of
a
resource-mobilization
committee
to
secure
financing
for
publicly
owned
dam
infrastructure.
Engineering,
feasibility
and
environmental
studies
are
currently
underway,
with
financial,
technical
and
legal
advisors
already
appointed.