President Dr Lazarus Chakwera has secured $25 million equivalent to K32 billion for the Golomoti Solar Power Project.
Upon completion, the plant will deliver 20 megawatts of electricity to the national grid directly to benefit businesses and households.
The Golomoti power plant will include Malawi’s first battery energy storage system, therefore creating a reliable energy source that will promote economic stability for Malawi’s future development.
“We are proud to assist Malawi in unlocking its renewable energy potential. I, therefore, wish on behalf of the US Government to congratulate your President and the people of Malawi for the trust and confidence the US Government has in the current administration.
“We hope you will maintain the course so that more support can come to better lives of your people,” said Chief Executive Officer for the US International Development Finance Corporation, Scott Nathan, in his interview with MBC.
The $25 million is a loan from the Development Finance Corporation for the new solar photovoltaic plant in Malawi with a battery storage capacity system.
The project is located in Dedza and is part of the JCM Power and Infraco Africa which co-developed the Golomoti solar plant. The plant started its operations in early 2022.
Nathan signed the commitment letter on behalf of the US Government on the sidelines of the UN General Assembly.
Reported by Chawezi Banda, MBC Online Services.