The African Development Bank (AfDB) has reaffirmed its commitment to be the lead financier and coordinator of the Batoka Gorge Electric Scheme (BGHES) in Zambia.
Amadou Hott, Vice President, Power, Energy, Climate and Green Growth Sector Complex, AfDB made the affirmation at the BGHES investor conference held in Livingstone, Zambia to discuss financial support and progress of the project.
The 2, 400 MW scheme will develop, operate, monitor and maintain hydropower projects along the Zambezi River shared by Zambia and Zimbabwe.
“The Batoka Scheme is in line with the objectives of AfDB’s New Deal on Energy for Africa,” Hott said.
AfDB is implementing the New Deal on Energy for Africa, to Light up and Power Africa, targeting universal access to clean energy by 2025.
More than 700 million Africans do not have access to clean cooking energy and over half a million women and children die every year due to indoor air pollution from the use of carbon-based fuels such as charcoal for cooking.
The Bank will invest $12 billion in the continent’s power sector over the next five years and aims to leverage $45 to $50 billion from the private sector.
The Batoka Gorge Electric Scheme will be implemented in partnership with other development partners.
It is being constructed by the Zambezi River Authority, an organization equitably owned by the governments of the two South African countries.