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Even After China Bailed on Its Sengwa Coal Plant in Zimbabwe, RioZim Seems Unusually Confident It’ll Find Other Backers

by Eric Olander

Many presumed that the $3 billion Sengwa coal-fired power plant project in Zimbabwe was doomed after the Industrial and Commercial Bank of China withdrew its support earlier this year as the project’s largest financier. Not so, according to plant’s owner RioZim that said in its half-year trading update that “the project remains alive despite the challenges.”

RioZim said it will continue to look for alternative financing for the 2800 megawatt facility while it also builds out new solar power stations in Zimbabwe. 

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