Mozambique Energy: HCB injects more than double the revenue to state coffers

Dollars154637_582x327Revenue from the Cahora Bassa Hydroelectric Power Plant (HCB) entering the public coffers reached approximately US$10 million at the end of the first half of this year, more than twice that in the same period in 2017.

Once again, the hydroelectric facility, located in the village of Songo, central province of Tete, was the state’s top earner, making about US$4.4 in the first half of last year, according to the National Treasury Directorate (DNT).

HCB’s contribution forms 43.7 percent of the revenue of companies licensed by the state, and grew 137.9 percent in nominal terms. The Nacala Integrated Logistics Corridor (CLIN), with a contribution of US$7.2 million (US$ 2.5 million more than in the first half of 2017), was the second-biggest earner.

HCB’s good performance is also shown by electricity production figures. In the first quarter of 2018, this stood at 3,433,504 megawatts per hour (MWh), 1.61 percent above targets foreseen for this period, and despite rainfall in the Zambezi basin of about four metres below what would be desirable.

Given the constraints imposed by hydrological conditions, energy production will continue to be carried out on the basis of four generating groups, and monitoring and analysis of meteorological and hydrological information will be maintained for any necessary adjustments.

CHB management says that it will take this opportunity to accelerate the implementation of projects under the CAPEX VITAL, a selective investment programme of replacement and modernisation with a view to maintaining the operability and efficiency of equipment in the medium and long term.

“Given the growing energy deficit in the country and the region and market opportunities, it is essential that HCB meets expectations and contributes to the development of new energy generation and transmission projects, in particular Mphanda Nkuwa and STE,” Pedro Couto, Chairman of the Board of Directors of HCB, said.

Source: O País

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