MIGA TO COMMIT US$50M TOWARDS MPATAMANGA HYDROPOWER PROJECT IN MALAWI

Multilateral Investment Guarantee Agency (MIGA) is set to commit $US50m towards Mpatamanga hydropower project in Malawi. MIGA is an arm of the World Bank that offers guarantees.

The funds will help the project which has stalled due to financial issues is one of many project the Malawian government hopes will help increase the country’s power generation capacity to meet the ever-increasing energy demands.

Speaking during the 2024 IMF/World bank Group Spring Meetings in Washington, Multilateral Investment Guarantee Agency (MIGA) Vice President, Ethiopis Tafara said that the institute is ready to bring private capital investor to the priority project lined up by the government of Malawi called ATM strategy.

According to Tafara, the bank is impressed by the effort being done by the government of Malawi towards the ATM strategy.

Mpatamanga hydropower project is vital towards the Malawi power supply. So by harnessing the power of the Shire River, the project will double the installed hydropower capacity in Malawi by providing 1.5 TWh/year of renewable and affordable energy.

The electricity generated by the project will be delivered to the grid through two transmission lines: a 64km long 400 kV transmission line from the main powerhouse to the existing Phombeya sub-station; and an 11.4km long 132 kV transmission line that will connect the regulation dam powerhouse to the existing Tedzani-Kapichira Transmission Line.

SOURCE: NyasaTimes