Zambia and Zimbabwe announced their intention to attract investments for the Patoka Water Energy Dam project, which has long been postponed by financial challenges, as work is currently being done to revive a controversial proposal that includes the benefit of the waters of the Congo River.
The cost of the huge project is $ 5 billion, and aims to establish a water station with a capacity of 2400 megawatts.
According to the CEO of the Zambizi River Authority, a joint body between the two countries and responsible for the Cariba Dam Administration, a specialized team has been formed to communicate with investors with the aim of securing the necessary funding for this major project.
Mniaradi Monodafava said that the efforts to collect resources target a period of time ranging from 12 to 18 months, based on the trust in the market, the conditions of investors, and the continuous support of the Zambian and Zimbabi governments.
The construction of the Patoka Dam was scheduled to start in 2020, but the project faced great delays due to the Kofid-19 pandemic and the difficulties associated with securing the necessary financing.
In a major development, Zambia canceled the contract signed in 2019 with the American “General Electric” companies and the “Chinese Energy Building Company”, due to what it said was violations of supply procedures.
Financial challenges
While Zimbabwe faces huge debts estimated at $ 21 billion, Zambia is still suffering from a five -year financial falter due to the debt crisis and the local economy, and has not been able to reach an agreement to restructure its debts after its failure to pay the dues.
However, the two countries are planning to choose new contractors by September 2025. But the process of collecting funds is witnessing complications due to the economic conditions of the countries.
In order to enhance the capacity of the Cariba Dam in facing the increasing climatic changes, Zambia and Zimbabwe are studying a bold plan represented in converting up to 16 billion cubic meters of water annually from the Congo River to Lake Carba.
This conversion aims to improve water flows in the largest industrial water tank in the world, which suffers from water deficiency due to the frequent drought resulting from the “nino” phenomenon.
But this step faces many environmental and logistical challenges, such as the need for huge amounts of energy to pump water through mountainous terrain.
Lake Cariba, which produces about half of the electricity needs for both Zambia and Zimbabwe, is the main source of energy in the two countries.
However, the problem of lack of water flows has greatly affected the production capacity of the dam, especially in light of the two countries exceeding the stated use of water, which adds additional pressure on the dam.
