https://newsletter.en.creamermedia.com
Energy|Hydropower|Power|PROJECT|Projects|Solar|Operations
Energy|Hydropower|Power|PROJECT|Projects|Solar|Operations
energy|hydropower|power|project|projects|solar|operations

ATI provides Malawi solar PV plant with liquidity support

16th July 2021

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

Font size: - +

Insurance agency African Trade Insurance Agency (ATI) has provided the 60 MW Salima solar photovoltaic (PV) plant, in Malawi, with a revolving liquidity guarantee that can be drawn following any payment delays by the national offtaker, namely the Electricity Supply Corporation of Malawi (Escom).

ATI provided the $4.4-million liquidity guarantee under its regional liquidity support facility (RLSF) against the risk of delayed payment by Malawi power utility Escom.

The RLSF policy will be for an initial tenor of up to ten years. The liquidity cover being provided via RLSF will enable up to $78-million of total project financing.

The 60 MW Salima solar PV plant, developed by Canadian independent power producer JCM Power and one of the most advanced projects, will be instrumental for Malawi’s underdeveloped electricity sector, which has an installed generation capacity of about 439 MW. More than 90% of this capacity comes from hydropower plants on the Shire river, which results in supply constraints during time of drought.

Moving forward, there is high potential for solar and new hydropower technologies to enter into the power market, thanks to reforms by the Malawian government that have led to the establishment of a viable electricity market for private sector participation in generation expansion, ATI says.

The Salima solar PV plant is due to start operations in August. It will be the first solar PV plant in Malawi to connect to the grid.

The energy generated, at an estimated annual average of 154 GWh, will be sold exclusively to Escom under a 20-year power purchase agreement.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Latest News

An image showing the Self-Employed Material Recycler Training Programme
Plastics SA launches informal recycler training programme
21st November 2024 By: Tasneem Bulbulia

Showroom

Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.178 2.275s - 172pq - 2rq
Subscribe Now