{"id":30157,"date":"2022-11-30T16:21:18","date_gmt":"2022-11-30T16:21:18","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-approves-e125-million-loan-for-hydroelectric-power-producer-hcb-to-modernize-production-system"},"modified":"2022-11-30T16:29:47","modified_gmt":"2022-11-30T16:29:47","slug":"afdb-approves-e125-million-loan-for-hydroelectric-power-producer-hcb-to-modernize-production-system","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/afdb-approves-e125-million-loan-for-hydroelectric-power-producer-hcb-to-modernize-production-system","title":{"rendered":"AfDB approves \u20ac125 million loan for hydroelectric power producer HCB to modernize production system"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Board of Directors of the African Development Bank Group has approved a loan package not exceeding \u20ac125 million to Hidroele\u0301ctrica de Cahora Bassa (HCB) in Mozambique to support its Vital Capex program aimed at modernizing the company\u2019s electricity production system.<\/p>\n

HCB, the largest Independent Power Producer (IPP) in Southern Africa, provides hydroelectric power to Mozambique and the Southern African Development Community (SADC). The package comprises up to \u20ac100 million from the African Development Bank and up to \u20ac25 million from the Africa Growing Together Fund.<\/p>\n

The modernization will extend the life of the plant by at least 25 years, enhance the reliability of energy delivery, reduce outages and enable the company to fulfil its contractual obligations to its off-takers and enhance regional integration of the electricity sector in SADC.<\/p>\n

It will also ensure the sustainability of energy security of the Community, particular South Africa, Mozambique and Zimbabwe. The Vice President of the African Development Bank\u2019s Power, Energy, Climate Change and Green Growth Complex, Kevin Kariuki, said: \u201cWe are delighted to support the Vital Capex program, given HCB\u2019s central role in the Southern African Power Pool.<\/p>\n

Additionally, HCB\u2019s increased capacity, enhanced reliability, and ability to provide ancillary services will facilitate greater integration of variable renewable energy sources such as solar PV and wind in the wider region.<\/p>\n

Also commenting, the Bank\u2019s Director for Energy Financial Solutions, Policy & Regulations, Wale Shonibare, said: \u201cthe Bank\u2019s support to HCB is well aligned with its vision of integrating African electricity markets to promote the supply of affordable and reliable electricity to consumers in the region.<\/p>\n

The loan aligns with one of the Bank\u2019s \u201cHigh Fives\u201d objectives to \u201cLight Up and Power Africa\u201d under its New Deal on Energy for Africa.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Board of Directors of the African Development Bank Group has approved a loan package not exceeding \u20ac125 million to Hidroele\u0301ctrica de Cahora Bassa (HCB) in Mozambique to support its Vital Capex program aimed at modernizing the company\u2019s electricity production system. HCB, the largest Independent Power Producer (IPP) in Southern Africa, provides […]<\/p>\n","protected":false},"author":84,"featured_media":30156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-30157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nAfDB approves \u20ac125 million loan for hydroelectric power producer HCB to modernize production system - Mozambique<\/title>\n<meta name=\"description\" content=\"The Board of Directors of the African Development Bank Group has approved a loan package not exceeding \u20ac125 million to H ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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