In a press release, HCB states that this hydroelectric production was achieved without the occurrence of work accidents and that it 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 first semester of 2022, translates into very significant and relevant revenues for the financing of the rehabilitation projects that are underway 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 manner so that it achieves its objectives,” said Boavida Muhambe, chairman of the board of directors, quoted in the statement.
In terms of modernization of the power generation park, the enterprise continues with the rehabilitation projects planned for the five generator groups with 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 rehabilitation project, brownfield-3, which will not only increase the useful life of the equipment, but also improve its performance indicators to international standard levels.
In relation to the water resources of the reservoir, the document states that on 30 June 2022, the level was 324.63 metres above average sea level, which corresponds to 93% of its useful storage capacity, thus permitting normal operation of the undertaking and implementation of the generation plant’s operating plans.
HCB also says that reaching 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 in the Mozambique Stock Exchange, during the 1st semester of the year they performed below the price of the Public Offering of 2019, except for the first fortnight of January, in which they remained firm at three meticais per share.
However, the shares remain appetizing in the secondary market generating considerable transactions, and on the current July 11, the company proceeds to pay a dividend amounting to 3.7 billion meticais, which corresponds to 36.4% of the Company’s profits.
“This amount of dividend represents a 26% increase if compared to the amounts paid in 2021,” the statement said.
