HCB reaches 15% of hydro-energy production

The Hydroelectric of Cahora Bassa (HCB), fixed the hydroelectric production of the 1st semester in 7.965 GWh, a little more than 15% above the production verified in the same period in 2021, says a communiqué sent to our redaction.

This is a hydroelectric production achieved with no work accidents and that exceeds the most optimistic expectations thanks to the availability of water and the equipment for production, conversion and transport of energy, and the performance of human resources.

"The production of the 1st half of 2022, translates into quite significant and relevant revenues for the financing of the rehabilitation projects that are taking place throughout the production chain.

On the other hand, they allow Cabora Bassa to continue to be a strategic and valuable asset in the national and regional energy matrix, and in the socio-economic development of Mozambique through the contributions it makes to the economy.

We have the duty to manage and operate the company in a judicious, responsible and transparent way so that it reaches its objectives" said Boavida Muhambe, president of the board of directors, quoted in the communiqué.

As for the modernization of the power generation park, the project continues with the rehabilitation projects planned for the five generator groups with an installed capacity of 2075 MW, whose interventions may lead to an increase in the nominal power of each group.

In the area of conversion and transmission equipment, subsequent steps are being taken to enter phase 3 of the Songo Converter Substation brownfield-3 rehabilitation project, which will not only increase the useful life of the equipment, but also improve its performance indicators to international standard levels.

Regarding the reservoir's water resources, the document states that on June 30, 2022, the level was 324.63 meters above sea level, which corresponds to 93% of its useful storage capacity, thus allowing the normal operation of the enterprise and the implementation of the production plant's exploration plans.

HCB also says that the achievement of these storage levels results from the judicious measures adopted during the last rainy season, in which, in view of the occurrence of tropical storm Ana, in January, and the tropical depression Dumako, in February, no additional discharges were made, contributing to the minimization of the impacts of floods and inundations in the Lower Zambezi.

Regarding the HCB shares on the Mozambique Stock Exchange, during the first half of the year they performed below the price of the Public Offering held in 2019, with the exception of the first fortnight of January, when they remained firm at around three meticais per share.

However, the shares remain appetizing in the secondary market generating considerable transactions, and on July 11, the company pays a dividend of 3.7 billion meticais, which corresponds to 36.4% of the company's profits. "This amount of dividend represents an increase of 26% if compared to the amounts paid in 2021," the statement said.

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