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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

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Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Malawi

Salima Solar

$58.58 million
Power
Project Brief
Active

Project Description

The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees that will support the development, construction and operation of a new 60 MW solar photovoltaic plant in Salima, a province in the central region of Malawi. The guarantees, issued to JCM Power International and InfraCo Africa Ltd. and amounting to US$58.58 million, cover 90 percent of the equity investments in the Project for up to 20 years. These guarantees provide protection against risks of Transfer Restriction and Breach of Contract. The Project is supported by IDA 18 PSW MIGA Guarantee Facility.

Environmental Categorization

The project is a category B under MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary.

Development Impact

The Project will become one of the first Independent Power Producers in Malawi and will add a new source of energy supply in the country, where electrification rates are among the lowest in the world, and 98% of total installed generation capacity is dependent on hydropower and vulnerable to the impacts of climate change. This Project is MIGA’s first engagement in Malawi.