(CercleFinance.com) – Voltalia announces that it has signed a mandate with IFC, a branch of the World Bank Group specializing in the private sector, to organize the financing of the Dwangwa project in Malawi.
This Dwangwa project combines a 55 megawatt solar power plant with a 10 megawatt battery storage unit.
The electricity will be sold under a 20-year long-term sales contract with the state-owned Electricity Supply Corporation of Malawi Ltd, the state-owned electricity transmission and distribution company.
This innovative project will have a particularly significant positive impact on local development: it represents nearly 10% of the installed capacity in the country, where less than 15% of the population is connected to the electricity grid, underlines Voltalia.