Maputo — Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi River, in the western Mozambican province of Tete, has surpassed by 12 per cent the annual production plan for 2023.

The target was set at 14,291,665.47 MWh, which enabled the company to channel about 13.06 billion meticais (204.7 million dollars at the current exchange rate) into the coffers of the Mozambican state.

According to a statement, by the end of the year, HCB, one of the largest energy producers in southern Africa, expects to generate 15,753,510.05 MWh, 1.9 per cent more than the volume of production achieved in 2022.

This figure is the result of the current programmes to strengthen the operation and maintenance of hydroelectric generation and transmission equipment, as well as what the company describes as the hard work of its multidisciplinary human resources teams.

"Exceeding the annual energy production recorded on 30 November 2023 has also resulted in considerable revenues, with an increase of around 29% compared to the same period in 2022, which will contribute to consolidating the company's economic and financial strength', said the Chairman of the HCB Board of Directors, Tomás Matola, cited in the statement.

"Up until November 2023, our contribution to the national economy, and channelled to the Mozambican state, was around 13.06 billion meticais, corresponding to taxes, concession fees and dividends', he added.

HCB guarantees that it is a financially healthy company, both in terms of liquidity indicators and in terms of its revenue generation capacity.

Its economic and financial strength, Matola said, allows it to honor its commitments and make investments in the expansion and diversification of its business, especially the construction of a second power station, with an estimated capacity to produce 1,245 megawatts, and the implementation of a photovoltaic plant of up to 400 megawatts, which is expected to be completed in the next few years.