…Arbitration holds up Zim’s private power sectorHARARE – Zimbabwe’s state electricity company is awaiting the outcome of international arbitration in a currency dispute with the country’s biggest private power producer that’s holding up other investments.Nyangani Renewable Energy, which operates solar and hydropower plants in Zimbabwe and Malawi, took the Zimbabwe Electricity Transmission Distribution Co. to the Johannesburg branch of the International Chamber of Commerce to rule on the disagreement over a currency conversion agreement.“We eagerly await the outcome of the arbitration,” Ian McKersie, the managing director of Harare-based Nyangani said.“If it is favourable, it will allow us to resume the very conducive working relationships we have.”Zimbabweans are subjected to regular power cuts because of the inability of Zesa Holdings to meet demand, and the state-owned company is struggling to pay for privately produced power because of a shortage of foreign currency. Other projects are stalled as producers await the outcome of the case.Private electricity has […]
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