According to AFDB:
The project goal is to support HCB’s10-year investment plan named “Vital Capex”.
The proposed transaction entails a Corporate Loan Facility (the “Facility”) to support Hidroeléctrica Cahora Bassa’s (“HCB”) 10-year investment plan named “Vital Capex”, with an estimated cost of EUR 650 million to rehabilitate and modernize HCB’s electricity production system located in Mozambique (the “Project”). HCB is the concessionaire of the Cahora Bassa Hydroelectric Scheme (“CBHS”), with a total installed capacity of 2,075MW, on the main stem of the Zambezi River and is the largest power producer in Mozambique, accounting for more than 80% of Mozambique’s power output. The project rationale is to enable the rehabilitation of CBHS with the following expected outcomes: i) extend the life of the dam by an additional 25 years; ii) increase the delivery of clean energy by an additional 110MW; iii) enhance the reliability of delivery of energy ; iii) reduce unplanned outages of CBHS enabling HCB to fulfil its contractual obligations to its off-takers and iv) enhance regional integration of the electricity sector in SADC countries; v) increase revenue for both HCB and Mozambique and vi) ensure the sustainability of energy security of South Africa , Mozambique and Zimbabwe.
AFDB Investment: U.A 78,914,764.16
ACCESS TO INFORMATION
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ACCOUNTABILITY MECHANISM OF AfDB
The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing email@example.com, firstname.lastname@example.org, email@example.com, and/or firstname.lastname@example.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/