February 12, 2025

Malawi secures $519m EU energy funding

February 12, 2025

The Malawian government has received $519 million in funding from the European Union (EU) to finance the 361 MW Mpatamanga hydropower plant and the Malawi-Mozambique Interconnector electricity projects. Once completed, the project will account for more than half of the country’s current installed capacity.

  • The announcement of this funding comes months after the EU and the Malawian government held discussions on potential investments in the sector during the Malawi–EU First Investment Forum in November 2024.

  • Malawi is among the 12 countries selected by the World Bank under Mission 300, which targets connecting 300 million people by 2030. The country aims to connect 2.7 million people to increase its electrification rate to 70% by 2030.

  • Our take: Hydropower is set to attract more funding as demand for firm power to supplement intermittent renewables grows… Read more (2 min)

Chinese solar manufacturer, Jinko Solar, has been awarded a contract to supply PV modules for a 17.5 MWp solar plant in Egypt. The project will be developed in partnership with an Egyptian renewable energy company IRSC for the Misr Beni Suef cement company. Across Africa, many large-scale consumers are adopting solar energy.

  • Jinko Solar designs and manufactures a wide range of PV products. The company also provides solar system engineering, procurement, and construction (EPC) services. It supplies its products to distributors, project developers, and system integrators. 

  • The Egyptian solar market has been growing steadily. Last year, about 707 MW of capacity was added to the grid, making it second only to South Africa, which installed 1,200 MW.

  • Our take: The adoption of solar among heavy consumers is expected to increase as fossil fuel subsidies end… Read more (2 min)

The International Finance Corporation (IFC) and impact investment firm Social Investment Managers and Advisors (SIMA) have launched a $150 million green bond initiative to fund over 220 MW of solar and battery storage projects in Africa. These projects are expected to cut carbon emissions by 4 million tonnes over their lifespan.

  • The SIMA Commercial & Industrial Solar Green Bond targets small and medium-sized enterprises (SMEs), providing short-term corporate finance and long-term project financing (up to 10 years) for solar initiatives under 5 MW. 

  • The IFC is directly contributing $25 million and facilitating a further $20 million for the bond. This additional funding comprises $11 million from the Finland-IFC Blended Finance for Climate Programme and $9 million from GEAPP.

  • Our take: This bond isn’t just about funding rather a market signal that Africa’s renewable sector is maturing… Read more (2 min)

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Kakuma Kalobeyei Challenge Fund’s team visit Kakuma Refugee Camp in Turkana, Kenya

Events

📅 Kenya to host The Intersolar Summit Africa (Mar 12)

📅 Lesotho to host Lesotho Energy Access Dialogue  2025 (Jun 25)

📅 Kenya to host Power & Energy Kenya 2025 (Jun 26)

Jobs

💼 RELP seeks a country energy expert (Togo)

💼 SunCulture seeks a carbon coordinator (Nairobi)

💼 Husk Power Systems seeks a customer acquisition officer (Nigeria)

Various 

🔋 China solar panel shipments to Africa increased  43% year on year

🔋 European Union and Germany partner for Nigeria Country Window initiative

🔋 Jinko Solar celebrates 8th AAA rating in PV Techs ModuleTech

Seen on LinkedIn 

Stephen Macharia, solar engineer at PIS, says, “For residential consumers, solar energy is no longer just eco-friendly—it’s a financially savvy move to escape rising bills and gain energy security. For businesses, it’s a competitive edge, slashing operational costs while boosting sustainability credentials.”

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