One of Malawi’s first solar projects has reached financial close of US$67 million. Initial site works have begun in Nkhotakota, and construction of the first phase is targeted for completion by March 2020. Once complete, the project will add 46 MW of clean energy to the local power supply.
Developed by Phanes Group in collaboration with responsAbility Renewable Energy Holding and the Overseas Private Investment Corporation (OPIC), the project was the result of the first Power Purchase Agreement (PPA) signed with ESCOM in February 2019. This was Malawi’s first competitive tender in the power sector, and the PPA is projected to last 20 years.
Phanes Group and its partners were awarded the project in May 2017 following an international tendering process. Phanes Group will work closely with its partners throughout development of the project: responsAbility is supporting with the provision of equity financing, while also taking on the role of co-developer. OPIC is contributing debt financing, and Natsons is the local development partner.
Country updates
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July 24, 2019
Construction advances for 60 MW Salima solar project in Malawi
Construction of the 60 MWAC solar project in the District of Salima, Malawi advances with the arrival and installation of equipment and materials on site. Co-developed by InfraCo Africa, part of the...
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May 07, 2019
Malawi, IFC InfraVentures sign joint development agreement for 258 MW Mpatamanga hydropower project
The Government of Malawi and IFC InfraVentures has signed a joint development agreement to develop the 258 MW Mpatamanga hydropower project on the Shire River in Malawi. The deal is signed...
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February 04, 2019
Malawi launches tender for 10 MW solar PV project
The Electricity Generation Company Ltd, a company wholly owned by the Government of Malawi, has called for an expression of interest for the design, supply, installation and commissioning of a 10 MW...
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December 04, 2018
Malawi launches construction of 60 MW solar PV project
Malawi’s president Peter Mutharika has launched a 60-megawatt solar plant to be constructed by JCM Matswana Solar Energy at Kanzimbe in Salima, Malawi. The project involves the development of a...
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November 27, 2018
InfraCo partners with JCM Power to build 26 MWp solar PV project in Malawi
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders Agreement with its Preferred Developer JCM Power (JCM), committing up to US$2.3m to co-develop th...
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