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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now