The World Bank's board of directors has approved a $350m (R6.25bn) grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity.
The World Bank said in a statement earlier this month that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1-million new households and create thousands of jobs.
The public-private partnership with an expected overall cost of over $1.5bn (R26.79bn) will represent the largest foreign direct investment in Malawi's history.
In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation.
The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
Reuters
World Bank approves $350m grant for Malawi hydropower project
Image: 123rf
The World Bank's board of directors has approved a $350m (R6.25bn) grant to support a large hydropower storage project in Malawi that will significantly increase the Southern African country's generation capacity.
The World Bank said in a statement earlier this month that the Mpatamanga Hydropower Storage Project would help supply electricity to over 1-million new households and create thousands of jobs.
The public-private partnership with an expected overall cost of over $1.5bn (R26.79bn) will represent the largest foreign direct investment in Malawi's history.
In September 2022 the Malawian government selected a consortium consisting of Electricité de France and SN Malawi BV owned by British International Investment, Norfund and TotalEnergies to lead the project's development and implementation.
The project will have a total generation capacity of 358 megawatts, doubling Malawi's installed hydropower capacity by building two dams along the Shire River between two existing hydropower facilities, according to its website.
Reuters
READ MORE:
Egypt in talks to buy 40-60 LNG cargoes amid energy crunch: sources
IMF ends Malawi programme after no review completed in 18 months
Malawi's women sand miners are trapped in climate change dilemma
New initiative aims to halve people living without access to electricity in Africa
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
News and promos in your inbox
subscribeMost read
Latest Videos