Energy
European consortium prequalified as strategic partner for Malawi’s 350MW hydropower project
June 17, 2020 / Wahard Betha
Malawi has prequalified a consortium comprising SN Power Invest Netherlands B.V and Electrite De France SA (SN Power and EDF SA) as a strategic partner for the construction of the 350MW Mpatamanga Hydropower Project on Shire River.
Malawi’s Public Private Partnership Commission (PPPC) Acting CEO Audrey Mwala says in a Press Statement that after successfully passing the prequalification stage, the consortium has subsequently been invited to submit a proposal.
“During the next and final phase of the tender process, the bidder will be required to submit a proposal that demonstrates, to the Government’s satisfaction, the bidder’s capability and commitment to implement a project that is reliable and affordable for the people of Malawi,” says Mwala.
The Malawi Government intends to develop the 350MW hydropower project under a Public Private Partnership (PPP) project finance development model which will require the selected investor to form a special purpose vehicle to build and operate the power plant.
The strategic partner is expected to have 70% shareholding in the project while state-owned Electricity Generation Company (EGENCO) will retain 30%.
Mwala says a total of the 15 firms submitted expressions of interest for the project but the two European energy firms were prequalified after they teamed up and submitted a joint bid as a consortium.
The Project will consist of two hydro power plants: a main power plant, main dam and reservoir with daily storage capacity capable of generating 309MW of electricity on a peaking basis; and a regulating dam with a hydro power plant capable of generating 41MW of base load electricity, downstream from the main reservoir and power plant.
The Malawi Government partnered with the World Bank’s International Finance Corporation (IFC) as co-developer to undertake early stage development activities for the Project, including the preparation of Project Agreements, technical, environmental, and social studies and reports.
A comprehensive World Bank-financed feasibility study for the project was completed in 2018.
The Malawi Government conducted the PPP feasibility study under the PPP Act, whose report was approved by the Ministry of Finance on October 31, 2019.
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