Golomoti solar plant

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The project entails the construction of a 20 MW solar plant and a 5 MW battery in Malawi. Golomoti Solar is jointly developed by JCM Power Corporation, a Canadian clean energy IPP and InfraCo Africa Limited, part of the Private Infrastructure Development Group (PIDG). The electricity generated by the power plant will be sold exclusively to the Malawian national power utility, ESCOM, under the terms of a 20 year Power Purchase Agreement signed in September 2018. JCM's lowest offered tariff was $0.08957 per kWh, and the company was awarded the design, build, finance, own and operate (DBFOO) contract. The sponsors financed the construction of the project on balance sheet. Then in July 2022, the Multilateral Investment Guarantee Agency (MIGA) signed a $24 million guarantee to cover the equity and shareholder loans. In September 2022, the U.S. International Development Corporation (DFC) signed a $25 million loan to support the project. https://www.dfc.gov/media/press-releases/dfc-commits-25-million-loan-golomoti-solar-expanding-renewable-energy https://infracoafrica.com/dfc-commits-25-million-loan-for-golomoti-solar-expanding-renewable-energy-generation-and-storage-in-malawi/ https://infracoafrica.com/ati-supports-the-20-mw-golomoti-solar-power-plant-in-malawi-with-its-regional-liquidity-support-facility-rlsf/