Zambia and Zimbabwe have appointed Synergy Consulting as the lead financial advisor for the Batoka Gorge hydropower project, a joint venture valued at 4.5 billion US dollars. The dam on the Zambezi River is projected to generate 2,400 megawatts of electricity for the two nations.
Munyaradzi Munodawafa, CEO of the Zambezi River Authority, stated that the US-based firm would manage the tender process and prepare bid proposals. He confirmed the project would be a public-private partnership with majority government ownership. The initiative, previously delayed by the pandemic and funding challenges, is scheduled to commence its tender phase next year. The need for new power sources follows recent electricity shortages in both countries, caused by drought affecting the existing Kariba Dam.
Munyaradzi Munodawafa, CEO of the Zambezi River Authority, stated that the US-based firm would manage the tender process and prepare bid proposals. He confirmed the project would be a public-private partnership with majority government ownership. The initiative, previously delayed by the pandemic and funding challenges, is scheduled to commence its tender phase next year. The need for new power sources follows recent electricity shortages in both countries, caused by drought affecting the existing Kariba Dam.
