The World Bank has approved a $350 million grant to support Malawi’s Mpatamanga Hydropower Storage Project (MHSP). The grant has been approved by the International Development Association (IDA). The project was co-developed by the Government of Malawi and the International Finance Corporation, which is a part of the World Bank Group, as a public-private partnership.
The overall expected cost of the project is over $1.5 billion, including financing costs during the construction period. The capacity of the project is 358.5 MW. Upon completion, it is expected to enhance the country’s installed capacity and deliver 1,544 GWh of clean energy annually.
Furthermore, MHSP is a large infrastructure operation. The main and regulating dams of the project on the Shire River will produce clean energy and store power to supply electricity during peak demand hours. Additionally, the hydropower facility will increase the grid’s capacity to meet the rising energy needs of Malawi’s mining sector.
