Featured image: Stock

IFC InfraVentures has signed a Joint Development Agreement (JDA) with the Government of Malawi to develop a hydropower plant on the Shire River.

The agreement signed last week is in coordination with the World Bank and with the support of SN Power AS and Power Africa.

According to a news announcement, the Mpatamanga hydropower project will be competitively tendered by the Government of Malawi.

Once construction is complete, the plant will provide up to 258MW of clean energy for Malawi. Read: Hydropower accounts for largest share of installed renewable capacity

IFC InfraVentures is a $150 million global infrastructure project development fund that has been created as part of World Bank Group’s efforts to increase the pipeline of bankable projects in developing countries. Read: Isimba hydropower station to provide affordable power