{"id":31253,"date":"2022-09-12T18:54:55","date_gmt":"2022-09-12T18:54:55","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/1-billion-mpatamanga-power-deals-signed"},"modified":"2022-09-12T19:36:51","modified_gmt":"2022-09-12T19:36:51","slug":"1-billion-mpatamanga-power-deals-signed","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/1-billion-mpatamanga-power-deals-signed","title":{"rendered":"$1 billion Mpatamanga power deals signed"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>The government has signed a $1 billion agreement with partners for the 350 megawatts Mpatamanga Hydropower Plant. Following the signing, construction is expected soon according to government officials. Pre-construction process for the five-year project started in 2021.<\/p>\n

Done under the Public-Private Partnership (PPP) scheme, the signing of the deal concludes the procurement and selection process undertaken by the government for a private partner and officially awards the role of project sponsor and lead developer to a joint venture of Scatec ASA\u2019s Hydropower Joint Venture and \u00c9lectricit\u00e9 de France (EDF).<\/p>\n

Minister of Energy Ibrahim Matola the strides recorded, saying the power plant would double the installed capacity of hydropower in Malawi. He said it will also improve the power supply security and provide opportunities for increased renewable energy generation capacity in the country.<\/p>\n

\u201cThe project will also contribute to the controlling of the flow of the Shire River downstream the power plant,\u201d Matola said.<\/p>\n

The government has 30 percent shares in the project, while International Finance Corporation (IFC) holds 15 percent stake with the other 55 percent shareholding being under Scatec ASA\u2019s Hydropower Joint Venture and EDF.<\/p>\n

IFC Regional Director for Eastern Africa Jumoke Jagun- Dokunmu said the power plant has potential to grow Malawi\u2019s electricity infrastructure and connect thousands of rural and remote households while spurring green, inclusive, and resilient growth in the country.<\/p>\n

Scatec Chief Executive Officer Terje Pilskog said the signing of the binding agreement is a significant development in the realisation of the Mpatamanga Project.<\/p>\n

\u201cThe country of Malawi will receive a significant investment into its power sector, which in turn will stand to benefit a major portion of the nation\u2019s population. We look forward to reaching further development milestones for this project \u2013 and contributing to Africa\u2019s renewable energy journey,\u201d he said.<\/p>\n

This comes as Malawi has been grappling with persistent power outages as energy generation remains dwarfed. The government says Mpatamanga Peaking Hydropower Project will deliver electricity to approximately 2 million people and lead to the abatement of 520,000 tons of carbon dioxide, annually<\/p>\n

Located on the Shire River, the scheme is composed of two power plants \u2013 a 309MW Peaking Plant at the Main Dam and a 41MW Base Power Plant at the Regulating Dam.<\/p>\n

The 309MW Peaking Plant with its 261 million cubic meters reservoir storage is designed to provide energy during peak demand hours of the day and overall grid stability with its ability to ramp up\/down production to suit actual demand.<\/p>\n

Other supporters of the project include Global Infrastructure Facility (GIF), the World Bank, and United States Agency for International Development (USAID) and the Public- Private Partnership Commission (PPPC).<\/p>\n

Justin Mkweu is a fast growing reporter who currently works with Times Group on the business desk. He is however flexible as he also writes about current affairs and national issues.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. The government has signed a $1 billion agreement with partners for the 350 megawatts Mpatamanga Hydropower Plant. Following the signing, construction is expected soon according to government officials. Pre-construction process for the five-year project started in 2021. Done under the Public-Private Partnership (PPP) scheme, the signing of the deal concludes the procurement […]<\/p>\n","protected":false},"author":84,"featured_media":31252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,371,5183,234,5182,5181],"class_list":["post-31253","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-malawi","tag-electricite-de-france","tag-malawi","tag-mpatamanga-hydropower-plant","tag-public-private-partnership"],"yoast_head":"\n$1 billion Mpatamanga power deals signed - Malawi<\/title>\n<meta name=\"description\" content=\"The government has signed a $1 billion agreement with partners for the 350 megawatts Mpatamanga Hydropower Plant. 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