GE Renewable Energy, part of one of the largest companies in the United States, General Electric Company, has confirmed that it is holding discussions on an array of projects, including the Batoka Hydropower plant, with the Zimbabwean government but these are still preliminary.
Spokesman Laurence Caillet told The Insider that no agreement has been signed yet.
GE had been asked to comment on reports that it intended to invest millions in Zimbabwe.
“GE representatives met with Zimbabwe officials to discuss an array of project opportunities, including the Batoka hydropower plant project,” Caillet replied without naming other projects.
“Those were preliminary discussions. No agreement was signed.”
GE was ranked the 18th largest firm in the United States by gross revenue last year and is into aviation, healthcare, power, renewable energy, digital industry, additive manufacturing, venture capital and finance, lighting, transportation, and oil and gas.
It even boasts in one of its catch lines: “Every two seconds a GE Engine takes off in the world….”
Zimbabwe has lined up several power projects under its transitional stabilisation programme as it believes that power is essential for the country’s economic recovery.
The country is currently working on Hwange 7 and 8 which will add 600 MW to the national grid and is estimated to cost $1.5 billion. It will be built over 42 months.
The biggest power project is the Batoka Hydro-Electric scheme project which will be jointly owned by the two neighbouring countries Zambia and Zimbabwe. It will be implemented under the Zambezi River Authority and aims to produce 1 600 MW- 800MW for each country- at accost of about $4.5 billion.
The project will be implemented under the Build Operate Own and Transfer arrangement.
Another power project will be at the largest inland dam Tugwi Mukosi. It is expected to generate 15MW and will cost $33 million. Civil works that will cost $9 million have already started.
Thermal power stations in Harare and Bulawayo are also to be upgraded to increase output from 30MW to 90 MW at a cost of $265 million.