- The US Development Finance Corporation (DFC) provides a $25 million loan for the Golomoti solar project in Malawi.
- The project is already in the operational phase and developing under a public-private partnership (PPP).
The US Development Finance Corporation (DFC)and the developers of the Golomoti Solar Project signed a loan agreement in the presence of Malawi’s President Lazarus Chakwera. This was on the sidelines of the 77th session of the United Nations General Assembly in New York, USA.
The Golomiti solar project is being developed by Canadian independent power producer (IPP) JCM Power in collaboration with investment firm InfraCo Africa. The project is being created in the Dedza area, 92 kilometres from the capital Lilongwe, and is already in the operating phase. A 20 MWp solar photovoltaic power station has been constructed there by JCM Power.
The plant has a 5 MW/10 MWh battery storage system, and the state-owned Electricity Supply Corporation of Malawi purchases the clean electricity generated there (ESCOM). The United States Agency for International Development (USAID), which provided funding for the project’s development phase and several other development financing organizations, contributed to the project’s initiative.