US’ DFC provides US$25 million for Malawi solar-plus-storage project

LinkedIn
Twitter
Reddit
Facebook
Email

The US’ International Development Corporation (DFC) has provided a US$25 million loan for a solar-plus-storage project in Malawi with a 5MW/10MWh battery energy storage system (BESS).

The government-owned development finance institution’s CEO Scott Nathan signed the commitment letter last week (21 September) to provide the funding for the project which went online in in May.

The Golomoti Solar project pairs a 28.5MWp solar photovoltaic power plant and 5MW/10MWh BESS in southeast Malawi, although announcements describe it as a 20MW project.

The DFC’s loan comes two months after the World Bank announced it would provide guarantees for equity and shareholder loan investments into the project amounting to US$24 million.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

CEO Nathan commented: “DFC’s US$25 million investment in Golomoti Solar will support a new solar energy plant in Malawi, delivering electricity to the national power grid to directly benefit Malawian businesses and communities. The Golomoti plant also includes Malawi’s first battery energy storage system, creating a reliable energy source that will promote economic stability for the country’s future development.”

JCM Power and InfraCo Africa co-developed Golomoti Solar. It is JCM Power’s second renewable energy project in Malawi, after the 60MW Salima Solar project entered commercial operation in October 2021.

Read Next

September 5, 2025
South Korean company SK On has entered the US BESS market with LFP batteries, securing a supply contract with Flatiron Energy Development.
September 4, 2025
In a double-hit of Texas news, Ormat is commencing operations at its Lower Rio facility, Engie is partnering with Prometheus Hyperscale to power data centres.
September 3, 2025
During the morning of 30 August 2025, the California Department of Forestry and Fire Protection (CAL FIRE) responded to a possible vegetation fire in the area of independent power producer (IPP) Arevon Energy’s California Flats solar-plus-storage project.
September 2, 2025
Energy-Storage.news speaks with Karina Hershberg, Associate Principal at engineering firm PAE Engineers, on integrating microgrids with sustainable building design.
September 2, 2025
Katherine Hutton, product manager of cybersecurity at Fluence, discusses why cybersecurity is critical for battery storage systems and how to navigate this increasingly complex area.

Most Popular

Email Newsletter