In a decision set to deter investment in new energy generation in Zimbabwe, an arbitration award has allowed the country’s power utility to pay independent power producers in local currency instead of US dollars.

The decision comes after Pungwe B Power Station, a hydroelectric power scheme, brought proceedings against Zimbabwe Electricity Transmission and Distribution Company (ZETDC) under the dispute resolution service of the International Chamber of Commerce (ICC) in Johannesburg...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.