[SMM Chromium Flash] Afrochine Secures US$155.5 Million Financing for 115 MW Solar Project​

Afrochine Smelting has secured a US$155.5 million financing package for the 115 MW Centrachine Solar PV Project in Selous, Zimbabwe, following the signing of a direct agreement with project developer African Transmission Corporation. The package comprises an US$87.5 million long-term facility led by the Trade and Development Bank, a US$65 million bridge facility from Sinohydro Leasing International and a US$3 million facility from FBC Bank, underwritten by Old Mutual.​

The solar project is designed to supply electricity to Afrochine’s ferrochrome smelting operations through a dedicated transmission line under a 25-year power purchase agreement. Commissioning is targeted for July 2027, ahead of the previous October 2027 schedule. The development could improve long-term electricity security for the energy-intensive smelting operation, although its impact on production costs will depend on the project’s eventual operating performance and power-supply terms.