Hidroeléctrica de Cahora Bassa (HCB) S.A., one of the largest independent power producers in the southern region of Africa, exceeded its planned annual production target for 2023, now set at 14,291,665.47 MWh, by 12% at the end of November.

By the end of the year, HCB expects to generate 15,753,510.05 MWh, corresponding to 1.9% above the production volume reached in 2022, according to the press release.

This figure, says the same HCB press release, is the result of the outstanding performance of the ongoing programs to strengthen the operation and maintenance of hydroelectric generation and transport equipment, as well as the hard work of the company's multidisciplinary human resources teams.

"Exceeding the annual energy production recorded on November 30, 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.

Until November 2023, our contribution to the national economy and channeled to the Mozambican state was around 13.06 billion meticais, corresponding to taxes, concession fees and dividends, in a context in which the company has adopted a new organic structure and human resources, which aims to prepare for the challenges of the national and regional energy sector," said Tomás Matola, Chairman of the Board of Directors, quoted in the document.

HCB is proud to be a company that is financially quite healthy, both in terms of liquidity indicators and in terms of its revenue generation capacity.

"The company's economic and financial strength allows it to honor its commitments and make investments in the expansion and diversification of its business, especially the reactivation of the North Power Station, with an estimated capacity of 1,245 MW, and the implementation of a photovoltaic plant of up to 400 MW, which is expected to be completed in the next few years," the note concluded.