Malawi will build a 60MW solar power plant project

Recently, the Malawi National Utility Electricity Supply Company (ESCOM) signed a 20-year power purchase agreement with the project developer for the 60 MW Salima solar power plant project
.

It is understood that the project is supported by InfraCo Africa, Canadian private equity firm JCM Power and Matswani Capital of South Africa, and signed a power purchase agreement
.

InfraCo Africa has committed up to US$2.
6 million in development funding to the Salima Solar Project and leveraged US$320,000 grant funding from its Private Infrastructure Development Group (PIDG) Corporation Technical Assistance Fund (TAF) to acquire the project base
.

Environmental and social impact assessments and technical studies have been completed and the project is expected to close financial results in the fourth quarter of 2018 and start supplying electricity
to the Malawi National Grid in 2019.

"The signing of this PPA marks a key step in our collaboration with InfraCo Africa, ESCOM and the Government of Malawi on the Salima Solar project, which will enable us to secure financing
for the construction phase," said the JCM Power Africa Project Leader.
Malawi has tremendous solar potential and we are excited to be part of a project that supports efforts to diversify the country's energy mix and increase access to clean, reliable electricity for homes and businesses
.
”

The Head of Business Development, East Africa, InfraCo Africa, said, "We are delighted to be working with our partners to pioneer commercial-scale solar projects
in Malawi.
As part of PIDG, InfraCo Africa works to alleviate poverty and promote economic development
in sub-Saharan Africa.
We achieve this by providing the necessary early financing and expertise to shift private sector investment to high-quality infrastructure projects
like Salima Solar.
”

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