Arbitration award set to torpedo Zimbabwe’s green energy plans
International Chamber of Commerce thwarts bid by Pungwe B Power Station to be paid in US dollars
24 October 2021 - 16:03
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
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.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.