The Malawian government has partnered with the International Finance Corporation (IFC) and energy companies, Scatec and EDF, for the development of the Mpatamanga hydropower plant to expand the country’s electricity generation capacity to address growing energy shortages.
A binding Public-Private Partnership framework agreement signed by the three parties paves the way for the addition of up to 350 MW of new capacity.
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The 350 MW of new capacity will be integrated into the country’s grid via the development of a 350 MW facility along Shire River, a 309 MW peaking plant and a 41 MW downstream facility along Shire River.
EDF will own a 27.5% stake of the project while Scatec will own 14% and the British International Investment and Norfund – Scatec’s venture partners – a 13.5% share of the project. Meanwhile, the government of Malawi will own a 30% and the IFC a 15% share.