Hidroeléctrica de Cahora Bassa (HCB) S.A, one of Africa's largest independent power producers, recorded an overall production of 15,753 GWh in 2022, corresponding to 5.09% above the volume of production achieved in 2021.

According to a statement sent to our newsroom, this production has generated considerable revenue and strengthens the company's financial and management indicators, given the need for investment in revitalizing the power generation system.

"The strategic investments in the rehabilitation and modernization projects of the electricity generation park, especially the third phase of the rehabilitation of the Songo substation and the second phase of the rehabilitation of the southern hydroelectric plant, will improve operational performance levels, extend the useful life of the generation and conversion assets to more than 25 years, and also increase the plant's production capacity from the current 2075 MW to around 5%, and thus increase the current revenues of the Cahora Bassa hydroelectric project in the medium and long term," said Boavida Muhambe, Chairman of the Board of Directors of HCB, quoted in the statement.

Also during the 2022 financial year, HCB shares closed the year with a price of 2.35 meticais per share, a variation of minus 21.7%, compared to the share price on December 31, 2021.

From January to December 2022, around 2,590,850 shares were traded, approximately 4.8 million meticais.

Regarding the availability of water resources in the reservoir, on December 31, 2022, the elevation stood at 321.9 meters above mean sea level, with a useful stored volume of around 80% and sufficient inflow capacity to guarantee the hydraulic-operational safety of the dam and related infrastructures, and minimize possible negative impacts on the communities of the riverside areas downstream of the Cahora Bassa dam, safeguarding the continued generation of hydroelectric power.

For 2023, the company has planned an annual production target of 14,292 GWh, a figure comparatively lower than the production seen in 2022, due to maintenance reinforcement interventions.