Malawi

Egenco begins construction of 10-MW solar power plant in Nanjoka, Malawi. Attendees included Energy Minister Ibrahim Matola. The USD 14 million project is the first phase of a 20-MW solar plant with 2.5 MWh battery storage system. Chint Electrical Co is the contractor and has acquired land for up to 50MW. This project is part of the Malawian government's wider plans to expand rural access to electricity.

The International Finance Corporation (IFC) has actually signed a mandate to prepare funding for a 55-MW solar project with a battery storage component proposed by France's Voltalia SA (EPA: VLTSA) in Malawi.

The Multilateral Investment Guarantee Agency (MIGA) has issued 20-year guarantees of USD 24 million (EUR 23.6 m) to JCM Golomoti UK Ltd for equity and shareholder funding investments for the development, building and construction and operation of a 20-MW solar-plus-storage plant in Malawi.

Malawi, a landlocked nation in southeastern Africa, is defined by its topography of highlands split by the Great Rift Valley and enormous Lake Malawi. The cost of solar energy there has fallen by more than 3 quarters internationally over the past decade.

Dubai’s Phanes Group together with its partner companies won the tender back in May of 2017, having beaten competitors from different countries. In total, 21 developers were bidding for the project.