Original disclosure @ MIGA website
Updated in EWS Nov 2, 2022
Disclosed by Bank Dec 2, 2021
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According to bank provided information, this summary covers an investment by Golomoti JCM UK Limited of the UK (JCM) into the project enterprise incorporated in Malawi, Golomoti JCM Solar Corporation Limited. The project involves construction and operation of a new 20 MW alternating current solar photovoltaic (PV) power plant (“the Project”) in Golomoti in the Dedza district of Malawi. The plant will also include a 5 megawatt/ 10 megawatt hour (MW/MWh) battery energy storage system (“BESS”) co-located with the solar PV plant, the first such unit in Malawi. JCM has applied for MIGA guarantees covering up to US$24 million of their investment into the project, which includes equity, quasi-equity, shareholder loans and future profits. The guarantees will have a term of up to 20 years, providing coverage against the risks of transfer restriction, and breach of contract. MIGA’s risk exposure under the guarantees is proposed to be shared with the IDA Private Sector Window (PSW) under the MIGA guarantee facility (MGF).
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||JCM Power Corporation Limited||Client||Energy|
*Contact information not provided at the time of disclosure*
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