IFC InfraVentures signs agreement with Malawi government

IFC InfraVentures has signed a joint development agreement with the Malawi government to develop the 258 MW Mpatamanga hydropower project on the Shire river. The agreement has been signed in coordination with the World Bank and with the support of SN Power AS and Power Africa. The hydro facility will be competitively tendered by the Malawi government. The $600 million project was conceptualised in 2011 by the Malawi government with support from the World Bank.