Lilongwe, Malawi: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders Agreement with its Preferred Developer JCM Power (JCM), committing up to US$2.3m to co-develop the Golomoti Solar project in Malawi. The 26MWp initiative will be one of Malawi’s first commercial-scale solar photovoltaic plants.
JCM’s Head of Africa, Justin Woodward, said at the signing: “We are committed to working with InfraCo Africa – alongside our colleagues at ESCOM and the Government of Malawi – to deliver reliable clean power to the country’s energy mix. Today’s agreement demonstrates the success of the two companies’ partnership and their dedication to developing Malawi’s solar power potential.”
JCM and InfraCo Africa have an established relationship; the two companies have been working together since 2016 to develop the 60MWAC Salima Solar project in Malawi. It is anticipated that Golomoti will leverage the partnership’s learning from the Salima project to progress more swiftly to construction and operations. In September 2018, a Power Purchase Agreement for both solar projects was signed by the national utility ESCOM.
InfraCo Africa’s Senior Business Development Manager, Claire Jarratt said: “We are delighted to be building upon our ongoing partnership with JCM to develop Golomoti Solar. The project will draw upon learning from our Salima Solar project, replicating key project documentation to accelerate its progress towards financing and construction.”
As part of PIDG, InfraCo Africa is committed to developing high-quality, replicable infrastructure initiatives across sub-Saharan Africa. In Malawi, it is anticipated that the energy projects will demonstrate the value of solar in Malawi’s energy mix, increasing investor confidence and mobilising future investment into the country’s renewable energy sector.