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Hidroeléctrica de Cahora Bassa last Friday approved its Report and Accounts for the year 2021, highlighting net income of 10.2 billion meticais, the highest amount ever.
According to HCB, this net result was supported by a 12.5% increase in sales, to 28,986.4 million meticais, anchored on global production of 14,990 GWh, 6.1% above planned production for the year. This total results from the availability of water resources and energy production and transport equipment, but represents a decline of 2.3% compared to 2020 output.
The shareholders agreed to allocate 36.4% of the results to the payment of dividends and 63.6% to retained earnings. The value of dividends per share for the year 2021 is therefore 0.14 meticais (out of a total of 3.7 billion meticais), a figure 26.1% higher than the dividends per share paid in 2021 for the 2020 economic year.
Cahora Bassa Hydroelectric was able to meet the growing demand for electricity in Mozambique, cementing its position as one of the largest exporters of electricity in Southern Africa. In line with its strategy, HCB has made progress in ensuring financial and operational sustainability, strengthening and managing its installed capacity through its ‘Capex Vital’ 10-year programme.
The Capex Vital programme aims to modernise and renew production chain equipment to improve performance, while at the same time ensuring a reliable energy supply to customers.
HCB remains focused on being an internationally recognized company and a driving force in the development of energy access in Mozambique and Southern Africa.
Despite the difficult macroeconomic environment, HCB continues to give priority to its strategy of expanding production capacity and diversifying its operations, which includes investments in new energy production units, with the emphasis on the Mphanda Nkuwa Hydropower project, whose production capacity is estimated at 1,500 MW.
For the 2022 year, Cahora Bassa has planned an annual target of production of 14,228 GWh. The definition of this target took into account the implementation of ‘Capex Vital’ and the scheduled shutdowns for maintenance of the electricity production park, which impact on the availability of energy production, conversion and transport equipment.