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Wednesday, 29 February 2012

Energy Watch (Batoka Investment)

Zambia recently signed an agreement with Zimbabwe to construct the 1,650MW Batoka Hydro-power project which is estimated to cost over US$4bn. This follows Zimbabwe’s agreement to pay off the US$70m it owes Zambia for the sale of the Central African Power Corporation (CAPC) assets which were jointly owned by the two countries. The deal is conditional on Zimbabwe completing the payment. The next step is to secure funding for the project. Though these projects are clearly welcome, one does wonder whether regional cooperation should concentrate on marshalling up support to deliver the Great Inga Project which could solve everyone’s problems. Unless of course the Batoka Project really is deliverable within a short time frame.

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