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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • 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

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.

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

July 2, 2025
Utility company Ameren Missouri has filed an application with the Missouri public service commission (PSC) to construct a natural gas and battery storage facility in the state.
July 2, 2025
Developer Atmos Renewables has successfully achieved financial close on its 400MWh Merredin battery energy storage system (BESS) in Western Australia.
Premium
July 1, 2025
As US Senators vote on the tax reconciliation bill, experts Jessica Dunn of Union of Concerned Scientists (UCS) and Tonja L. Wicks of esVolta discuss its potential impact.
July 1, 2025
Battery energy storage system (BESS) developer Giga Storage has acquired a 350MW/1,400MWh BESS asset in Germany, marking an expansion into the broader European energy storage market.
July 1, 2025
Alinta Energy has approved the development of the first stage of its Reeves Plains Energy Hub BESS in South Australia.

Most Popular

Email Newsletter