Zambia and Zimbabwe have each committed 220 million dollars in equity to revive the Batoka Gorge Hydropower Project, a 4.2 billion dollar cross border power facility planned on the Zambezi River near Victoria Falls. The joint equity contribution of 440 million dollars is intended to strengthen the project’s bankability and attract long term private sector financing.
Once completed, the hydropower plant will have an installed capacity of 2,400 megawatts, with 1,200 megawatts allocated to each country. The project is expected to reinforce national electricity grids while also supplying power to the Southern African Power Pool, supporting regional energy security and industrial growth.
To advance financing, a joint council of ministers has approved the creation of a resource mobilization committee to support funding for the publicly owned dam infrastructure. Engineering, feasibility, and environmental studies are ongoing, with financial, technical, and legal advisers already appointed to guide project development.
