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JCM Matswani Solar Corporation Ltd signed a 20-year power purchase agreement (PPA) with Malawian national utility the Electricity Supply Corporation of Malawi Ltd (Escom) on 13 September for the 60MW Salima solar photovoltaic project. The project is being developed by InfraCo Africa, part of the Private Infrastructure Develop Group (PIDG), and a fund managed by JCM Power and Matswani Capital.
InfraCo has committed $2.6m to development and the project also received a $320,000 grant from the Technical Assistance Facility, also part of the PIDG. Environmental and social impact assessments and technical studies have been completed and financial close is expected in Q4 this year, with commercial operations starting in 2019.
The project was selected by national utility Escom as a preferred bidder in June 2017 following a competitive tender process in which it offered a price between 8.259-9.235c/kWh. Four solar projects were selected in total.
“This PPA is a crucial step in our roadmap to ensure that our customers have access to quality, reliable, and safe power”, Escom chairman Thomson Mpinganjira. “Malawi has an enormous potential for solar energy and we are excited to walk this roadmap with JCM Matswani Solar Corporation Ltd”.
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