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African Development Bank Approves 125 Million Euros for Cahora Bassa

African Development Bank Approves 125 Million Euros for Cahora Bassa

The African Development Bank (ADB) has approved a loan of 125 million euros to Hidroeléctrica de Cahora Bassa (HCB) to support a programme to modernise the electricity production system, it announced in a statement.

“The package comprises up to 100 million euros from the African Development Bank and up to 25 million euros from the Africa Growing Together Fund,” the document details.

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The modernization aims to “extend the life of the plant” of hydroelectric production for another 25 years.

The vice president of the ADB, Kevin Kariuki, said that the strengthening of Cahora Bassa “will facilitate greater integration of variable renewable energy sources, such as solar photovoltaic and wind power throughout the region.

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According to the bank, the loan aligns with one of its strategic objectives, that of “lighting and powering Africa.”

HCB is presented as the largest energy producer in Southern Africa and supplies Mozambique, South Africa and other Southern African Development Community (SADC) countries.

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