Zimbabwe agrees $455 million power plant refurbishment deal with Jindal

Harare (Reuters) -Zimbabwe has adopted a 15 -year -old concession agreement with the African -oriented unit of India’s Jindal steel for the renewal of a 920 megawatt coal -fired electrical power plant.

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Moyo is expected to take four years during a briefing of the Hwange Thermal Power Plant during a briefing of the cabinet on Tuesday. Jindal Africa will save its investment from the revenue of electricity sales from the facility.

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The South African country currently meets only half of the 2,000 MW of electricity demand and frequently expanded power cuts due to the decrease in aging power plants.

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1,520 MW Hwange facility, the largest in the country, was upgraded with the launch of two units added 600 MW in 2023. However, its former units were built in the 1980s and operates in one -third of their capacity due to failure.

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The Kariba Hydroelectric Station, built in the 1960s, completed an upgrade of 300 MW in 2018 in 2018, which increased its capacity to 1,050 MW. However, production capacity has been affected by drought in recent years.

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(Reporting by Chris Takudzwa Muronzi; Editing by Nelson Banya and Joe Bavier)