Zimbabwe Power Company

What Zimbabwe Power Company does

Zimbabwe Power Company (ZPC) is the state-owned electricity generation utility of Zimbabwe, incorporated in 1996 and operational since 1999, operating as a subsidiary of ZESA Holdings under the Ministry of Energy and Power Development following the Electricity Act of 2002. ZPC is the exclusive entity authorized to construct, own, operate, and maintain power generation stations in Zimbabwe, with each station licensed by the Zimbabwe Electricity Regulatory Authority (ZERA). The company serves exclusively the Zimbabwean domestic market, selling 100% of generated electricity to the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) under regulated Power Purchase Agreements; it does not sell directly to end consumers or operate in export markets.

ZPC's generation portfolio comprises one hydroelectric facility (Kariba South Power Station, 1,050MW) and one major coal-fired complex (Hwange, 1,520MW after the 2023 expansion). Three small thermal stations — Bulawayo, Munyati, and Harare — were shut down between July and August 2023 and placed under care and maintenance pending repurposing. Underlying technology centres on conventional thermal generation (with the Hwange expansion adding a 150m cooling tower, limestone-based flue gas cleaning, and a stacker-reclaimer coal handling system) and hydroelectric generation (Kariba turbines each rated 150MW, discharging 188 m³/s of water). Combined installed capacity stood at 2,640MW after the Hwange Expansion and Kariba South Extension, with a planned 1,200MW additional allocation from the joint Zambia-Zimbabwe Batoka Gorge hydropower project on the Zambezi River.

ZPC's revenue model is wholesale electricity sales to a single state-linked off-taker under regulated tariffs, with no direct consumer channel, no disclosed pricing, and no disclosed revenue figures. The company has executed multi-hundred-million-dollar debt-funded expansion programmes — $998M from China Exim Bank (Hwange), $533M for Kariba South, $310M Indian line of credit for Hwange refurbishment, and $220M committed to Batoka Gorge — and maintains ISO 9001, 14001, 45001, 31000, and integrated 50001 certifications since 2018.

Name

Zimbabwe Power Company

Legal name

Zimbabwe Power Company

Website

https://zpc.co.zw

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Zimbabwe Power Company is the state-owned electricity generation utility of Zimbabwe, operating coal-fired and hydroelectric power stations exclusively for domestic sale to ZETDC under regulated PPAs, with a combined installed capacity of 2,640MW.

Ownership category

akta.pro rank

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Electricity Sales to ZETDC: ZPC generates electricity through its power stations (coal-fired and hydroelectric) and sells electricity to the domestic market through Power Purchase Agreements (PPAs) with the Zimbabwe Electricity Transmission and Distribution Company (ZETDC). The company's mandate is to generate electricity for the domestic market.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Zimbabwe Power Company (ZPC) generates electricity through five power stations — four coal-fired thermal plants (Hwange, Bulawayo, Munyati, Harare) and one hydroelectric plant (Kariba South) — with a combined installed capacity of 2,640 MW after the Hwange and Kariba South expansion projects. ZPC sells all generated electricity wholesale to the Zimbabwe Electricity Transmission and Distribution Company (ZETDC) under Power Purchase Agreements (PPAs) for supply to Zimbabwe's domestic market, operating under generation licences from the Zimbabwe Electricity Regulatory Authority (ZERA).

Product overview

Zimbabwe Power Company (ZPC) operates as a power generation utility managing a portfolio of five power stations with a total installed capacity of 1,960MW. The company's portfolio consists of one hydroelectric facility (Kariba South Power Station at 1,050MW), one major coal-fired plant (Hwange Power Station at 920MW), its expansion project (adding 600MW), and three small thermal stations (Bulawayo, Munyati, and Harare) which are being decommissioned and repurposed. ZPC's core business is generating electricity for the domestic market under mandate from the Zimbabwe Electricity Regulatory Authority (ZERA).

Differentiator

Problem solved

Functional benefit

Products and services

• Hwange Power Station Zimbabwe's largest coal-fired power plant located in the North-Western region, with an installed capacity of 920MW comprising four 120MW units and two 220MW units. The station is situated next to the Wankie Colliery Open Cast Mine.
• Kariba South Power Station The largest hydroelectric power generation facility in Zimbabwe, with a total installed capacity of 1,050MW. The station was expanded in 2018 with two additional 150MW generating units.
• Hwange Expansion Project (Units 7 and 8) Addition of two 300MW units to Hwange Power Station, commissioned in August 2023. The $998 million project included construction of 400kV substations and transmission lines to Bulawayo, increasing the Hwange complex capacity to 1,520MW.
• Kariba South Extension Project Expansion project adding two 150MW generating units to Kariba South Power Station, completed in March 2018 at a total cost of $533 million. The project was completed on schedule and within budget.
• Small Thermal Power Stations Three legacy small coal-fired thermal power stations (Bulawayo, Munyati, Harare/HESCO) operating as embedded generators dispatched only to meet supply shortfalls. Bulawayo commissioned 1947-1957 (90MW post-1998 refurbishment), Munyati established 1938 and completed 1953-1958 (100MW across five units), and Harare/HESCO in Workington area of Harare (multiple stations totaling ~100MW). All three were shut down in 2023 for care and maintenance pending repurposing studies.
• Batoka Gorge Hydro Electric Scheme Planned 2,400 MW hydropower project on the Zambezi River under development. Each nation (Zambia and Zimbabwe) will receive 1,200 MW. The $4.2 billion project has faced delays and requires new investor sourcing.

Quantifiable outcome

• Increased installed capacity from 1,960MW to 2,640MW through expansion projects
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered major, minor and core.

• Republic of ZambiamajorStrategic or Co-development Partner · 14 January 2026Zambia and Zimbabwe have each committed $220 million (totaling $440 million) to restore the bankability of the $4.2 billion Batoka Gorge hydropower project, a 2,400 MW plant on the Zambezi River that would supply 1,200 MW to each nation. The funding represents a public contribution intended to attract private capital.
• Moors World of Sport (MWOS) FCminorStrategic or Co-development Partner · 1 January 2025In January 2025, ZPC Hwange FC entered into a partnership with MWOS FC, combining resources and expertise to strengthen football development in Zimbabwe. This collaboration nurtures grassroots football in Hwange, providing a pathway for young players to advance to the Premier Soccer League.
• Zambezi River Authority (ZRA)coreStrategic or Co-development Partner · 1 March 2014The Zambezi River Authority, a statutory organization established by the governments of Zimbabwe and Zambia, is responsible for managing water allocation used by Zimbabwe's Kariba South Power Station and Zambia's Kariba North Power Station. The authority allocates water for power generation based on rainfall forecasts.
• Sino HydromajorStrategic or Co-development Partner · 1 January 2013Sino Hydro is the contractor for the Hwange Expansion Project. The company contributed $2 million while ZPC contributed $1 million ($3 million total) for pre-commencement works including mobilization, route surveys, site layout, geotechnical and topographical surveys. Three specialist engineers from Sino Hydro were stationed at Hwange for pre-commencement works.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Botswana Power Corporation (BPC): Botswana's state-owned vertically integrated power utility. Comparable in scale and structure to ZPC, serving a Southern African single-country domestic market with significant imported power exposure (relevant to ZPC's potential export posture via SAPP).
• NamPower: Namibia's state-owned power utility, partially generation and partially transmission. Comparable regional SAPP peer with similar small-market dynamics, reliance on imports, and state-driven capacity expansion planning.
• ZESCO Limited: Zambia's vertically integrated state-owned power utility — the closest geographic and structural peer given shared Zambezi River hydro resources (including Kariba North) and ZPC's co-development of the Batoka Gorge project with Zambia.
• Ethiopian Electric Power (EEP): Ethiopia's state-owned power producer with the Grand Ethiopian Renaissance Dam and other major hydro projects. Comparable in scale of hydro megaprojects, heavy Chinese financing dependence, and state-mandated generation monopoly.
• Kenya Electricity Generating Company (KenGen): Kenya's state-owned power generator with a diversified portfolio of hydro, geothermal, and thermal plants. Comparable as a Sub-Saharan African state generation utility that has pursued capacity expansion, geothermal diversification, and IPP partnerships.
• Société Nationale d'Électricité (SNEL): DR Congo's state-owned power utility, dominant generator of hydroelectric power from the Inga complex on the Congo River. Comparable as a Sub-Saharan state hydro-heavy utility with significant untapped capacity potential.
• Eskom Holdings SOC Ltd: South Africa's state-owned power utility operating a coal-dominated generation fleet (~40+ GW). Directly comparable as a vertically similar state power generator with large coal and hydro assets, regulated tariffs, a single national off-taker structure, and chronic financial/operational challenges.
• Tanzania Electric Supply Company Limited (TANESCO): Tanzania's state-owned integrated power utility with hydro and gas-fired generation. Comparable as an East African state generator pursuing hydro megaprojects (Julius Nyerere, Rufiji) under Chinese financing — closely analogous to ZPC's Hwange/Kariba expansion model.

Others

• Sino Hydro (PowerChina): Chinese state-owned EPC contractor that built the Hwange Expansion as ZPC's strategic partner and is a repeat counterparty for African hydro megaprojects. Comparable as a key ecosystem participant — not a peer in generation, but a critical enabler of ZPC's expansion trajectory.

Regional players

• Electricidade de Moçambique (EDM): Mozambique's state-owned integrated electric utility, particularly relevant due to the Cahora Bassa hydroelectric scheme on the Zambezi. Operates in the same SAPP regional power pool and shares river-system interdependence with ZPC's Kariba operations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ZPCPower
• YouTubeyoutube.com/@zpcpower
• Facebookfacebook.com/ZPCPower
• LinkedInlinkedin.com/company/zpc-power
• Instagraminstagram.com/zpcpower

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zimbabwe Power Company