Zambia and Zimbabwe have decided to cede $440 million worth of shares to the private investors of the Batoka hydroelectric dam. The sale of stakes in the Batoka Project will aid in funding some of the $4 billion needed for construction.
The Batoka hydroelectric dam will have a capacity of 2,400 MW, consisting of two separate power plants, each controlled by one of the countries, with an installation cost of $732 million per plant.
The dam itself will have an estimated construction cost of $2.14 billion. These funds will be mobilized largely through debts and grants. The infrastructure is scheduled to be completed in 2023.