Mozambique: HCB production neared 16,000 GWh in 2022

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Mozambique: HCB production neared 16,000 GWh in 2022

1:33 CAT | 26 Jan 2023

Photo courtesy: HCB

Cahora Bassa Hydroelectric (HCB), one of the largest independent energy producers in Africa, registered total production of 15,753 GWh in 2022, 5.09% up on the volume of production achieved in 2021. This production generated considerable revenue, and reinforces the company’s financial and management indicators, given the need for investment in the revitalization of its electricity generation system.

“Strategic investments in the rehabilitation and modernization projects of the electricity generation park, especially the third phase of rehabilitation of the Songo substation and the second phase of rehabilitation of the south hydroelectric power plant, will improve operational performance levels, extend the useful life of the assets of generation and conversion for more than 25 years, increase the plant’s production capacity by about 5% from the current 2075 MW and thus increase the current revenues of the Cahora Bassa Hydroelectric project in the medium and long term,” said Boavida Muhambe, chairman of the HCB Board of Directors.

HCB shares closed the 2022 financial year in question at 2.35 meticais per share, a 21.7% fall compared to the share price on December 31, 2021. From January to December 2022, around 2,590 shares were traded, at a value of approximately 4.8 million meticais.

Regarding the availability of water in the reservoir, on December 31, 2022, the quota was situated at 321.9 meters above average sea level, with a useful volume stored of around 80%, an amount sufficient to guarantee the hydraulic-operational safety of the dam and related infrastructure, safeguard continued generation of hydroelectric energy and minimize possible negative impacts on riverside communities downstream of the Cahora Bassa dam.

For 2023, the company plans to produce 14,292 GWh, an amount comparatively lower than the production verified in 2022, due to the reinforcement of maintenance interventions.

Source: Hidroeléctrica de Cahora Bassa (HCB) / Press Release