By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – The $1billion Mpatamanga dam on the Shire River is a public-private cooperation that beholds Scatec and EDF financing, building and operating the 350MW plant.
Scatec and EDF will together carry a 55% equity stake in the project. The Malawian government will own 30% and the World Bank Group’s International Finance Corporation (, IFC) will own 15%. The IFC is providing $350 million towards project costs in loans and guarantees.
The dam will be 45m high with a 22km-long reservoir and two generating facilities: a 309MW “peaking plant” to provide energy during peak demand, and a 41MW downstream generator.
Scatec allied with British International Investment and Norwegian state development financer Nor fund to finance the scheme.
Stating on the scheme, Malawian Energy Minister – Ibrahim Matola Stated: “The 350 MW Mpatamanga hydropower project will … improve power supply security, provide opportunities for increased renewable energy generation capacity in the country and contribute to controlling the flow of the Shire River downstream of the power plant.
“The government of Malawi is indebted to its partners in achieving this milestone, which is a major step in the development of this project.”
Scatec is a renewable energy provider that develops, builds, owns and operates renewable energy plants. At present, it has 4.6GW in operation and under is construction across four continents. Clearly, no start or finish date has been bestowed for the work.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent