Mining & Energy
Money from the sale of Cahora Bassa shares will be used to update equipment
Cahora Bassa Hydroelectric Company, located in the Songo village of Tete province, is considered operationally and financially stable despite occasional adjustments to production resulting from weak rainfall that has caused a drought in the Zambezi valley.
Speaking in Songo some days ago, Pedro Couto, chairman of the Board of Directors of the largest hydroelectric power generation venture in Southern Africa, said
that, despite the drought resulting from the El Nino phenomenon, which caused a slight drop in the flow levels required for the production standards of the company, the Production Council was able to reformulate its programme in time, and achieve desirable energy production levels from last year to the final quarter of the current year.
“HCB remains healthy and we have just closed the report of accounts that goes to the general meeting of the shareholders of the company. We had positive results, indicating that our operational and financial health is good and stable, “said Pedro Couto.
He added that after the readjustments of the production plan made since last year, HCB’s management would this year continue to work with four of the five generator sets, a production scenario allowing efficient functionality with positive economic and financial results as so far reflected.
“Unfortunately, the lack of rain in the region continues to persist, and this year rainfall was lower than expectations, meaning that we finished the season with a quota of 320 metres [of water], which is still insufficient,” he said.
The HCB Board of Directors expects that, with correct management of hydrological resources, the tendency of rainfall to normalise between 2018 and 2019 will improve the level of water stored in the reservoir and that electricity production will reach targets.
“We hope there will no deterioration of the hydrological situation, increasing stability and improve production from this point on,” he said.
During the first quarter of this year, Cahora Bassa reached its production target of 3,433,504 MWh, 1.61 per cent more than had been planned.Source: Notícias
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