Zimbabwe: Chinese Bank Ditches 2800MW New Build Sengwa Coal Fired Power Plant

  • The Industrial and Commercial Bank of China (ICBC) has confirmed that it will not fund the new build 2800 MW Sengwa coal plant in Zimbabwe. 
  • The news may mark the end of new build coal fired power plants in Africa as China is seen as the last bastion for funding for such projects.

Bloomberg reports that Industrial and Commercial Bank of China has told Go Clean ICBC, an ad-hoc body representing 32 environmental groups, that it has walked away from the 2800MW Sengwa coal project in northern Zimbabwe.

The Sengwa project was being developed by RioEnergy Ltd and construction was to be carried out by the China Gezhouba Group. Power Construction Corp China was appointed to contruct the transmission infrastructure.

The Go Clean ICBC coalition of environmentalists, mostly from countries hosting ICBC coal projects, was formed in January to urge the bank to switch its investments to clean energy like solar and wind power.

Related news: China Suspends Refurbishment of Hwange coal power plant in Zimbabwe over bank account raid

Author: Bryan Groenendaal

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Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

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