Bloomberg/28-04-2020

Zimbabwe’s Rio Energy Ltd., a unit of RioZim Ltd., will build a 2,100-megawatt thermal power plant with China Gezhouba Group Corp in northern Zimbabwe at a projected cost of $3 billion, Rio Energy said Monday. “CGGC will develop the project and assist with the fund raising,” Caleb Dengu, chairman of Rio Energy Ltd said. The power plant at Sengwa will be constructed in four phases of about 700 megawatts each, bringing total capacity to 2,800 megawatts. The first phase of the project will cost about $1.2 billion, he added. Zimbabwe generates and imports about 1,300 megawatts of electricity, short of its 2,200-megawatt demand.