September 27 (Renewables Now) - JCM Matswani Solar Corp Ltd has signed a 20-year power purchase agreement (PPA) with Electricity Supply Corporation of Malawi Ltd (ESCOM) for the 60-MW Salima solar project, one of Malawi's first commercial-scale solar photovoltaic (PV) plants, InfraCo Africa said on Thursday.
The project has been co-developed by InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), a development fund managed by a subsidiary of JCM Power and Matswani Capital.
According to JCM Power's head of Africa, Justin Woodward, the PPA signing will enable the partners to secure financing for the construction phase. Financial close is expected in the fourth quarter, with the project set to start supplying power to Malawi's grid in 2019.
ESCOM has signed Power Purchase Agreements with two Independent Power Producers, JCM Matswani Solar Corp and Mulanje Hydro Limited who will add a total of 88 MW to the power system between January 2019 to December 2019 through Solar and Hydro power generation. pic.twitter.com/ZWL8qXGgjb— ESCOM (@ESCOM_Malawi) 14 септември 2018 г.
The PPA signing took place on September 13. The Malawian national utility signed the contract for the Salima Solar project together with a PPA for a hydro project of Mulanje Hydro Ltd. The two facilities will together add 88 MW to the country's power system between January 2019 to December 2019, according to a social media posts by ESCOM.