Batoka Gorge Hydropower Project Revived as Zambia, Zim Reappoint Financial Adviser

 

Zambia and Zimbabwe have revived the long-delayed Batoka Gorge hydropower project, appointing Synergy Consulting, a Virginia-based firm, as the lead financial adviser for the estimated US$4.5 billion undertaking.

Zambezi River Authority Chief Executive Officer Munyaradzi Munodawafa said Synergy “will help prepare a request for proposals, shortlist potential bidders, and provide other advisory services.”

He added that the firm “has extensive experience working with the World Bank, the International Finance Corporation, and other development institutions.”

Speaking on the public-private partnership structure, Munodawafa said the project will be developed as a PPP, with the governments of Zimbabwe and Zambia retaining a controlling stake.

Construction had been scheduled to begin in 2020, but Munodawafa noted that it “was delayed due to the onset of the coronavirus pandemic and difficulties in securing funding.”

He also recalled that “Zambia previously withdrew from a 2019 contract, citing irregular procurement methods.”

Once operational, the Batoka Gorge scheme is expected to generate about 2,400 MW of electricity, to be shared equally between Zimbabwe and Zambia.