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A Hidroeléctrica de Cahora Bassa (HCB) has closed the year 2019 with a positive net result of 6,062.9 million meticais, equivalent to a growth of 30.5 percent, compared to the previous year. Located on the Zambezi River, in the province of Tete, /span>HCB is the largest power generation plant in Mozambique, comprising five turbines with a capacity to generate 415 MW each.

In the statement of accounts recently made public, the company highlights that during 2019 energy production reached 14,656 GWh, representing an increase of 7.3 percent compared to 2018. This increase results essentially from the significant improvement in the hydrological situation of the reservoir, which made it possible to reach a storage peak of 99.59 percent of full, reaching a level of 326 meters.

The company remains committed to the rehabilitation and modernization of the assets, under the Capex Vital program, which will contribute to improving the conditions of production and transport of energy. The Capex Vital consists of a medium-term investment plan, with an estimated cost of EUR 500 million, aimed at the recovery and modernization of the enterprise’s electro-production system.Last year, HCB signed a contract with Sweco, a Swedish company, for the execution of the Cahora Bassa modernization and hydroelectric exploitation. Under the contract, Sweco is to provide consulting services, monitor and verify the installation of new equipment in one of the largest dams in Africa. The dam’s modernization and hydroelectric project should be completed by 2025, and the Brazilian company Intertechne Consultores is Sweco’s partner for some parts of the contract.

In the mentioned report, HCB also highlights the importance of the Public Offering (IPO) of four percent of the shares, launched last year and that allowed many Mozambicans to become shareholders of the company, which was positioned as the largest operation that occurred, since the creation of the Mozambique Stock Exchange. In Jornal Notícias, 15.06.2020

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