China Africa Sunlight to Invest $2.1 Billion in Zimbabwe Power
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China Africa Sunlight Energy Ltd. said it plans to invest as much as $2.1 billion developing coal mines and building a 2,100-megawatt plant powered by the fuel in Zimbabwe to help ease electricity shortages.
The company, a venture between Old Stone Investments Ltd. of Zimbabwe and Shandong Taishan Sunlight, will start with capacity to produce 300 megawatts by mid-2015 and raise this to 600 megawatts by the end of that year, General Manager Charles Mugari said. The company has spent $20 million on exploration, and was granted rights to look for coal and coal-bed methane in the area in October 2012.