African Trade Insurance Agency (ATI) supports $67 million solar plant in Malawi

ATI IS supporting the Nkhotakota Solar Power Plant in Malawi, which is expected to add 37 MW of clean energy to the national capacity, providing electricity for 150,000 Malawian households.

It is doing so through its Regional Liquidity Support Facility (RSLF), designed to cover late payment risks of publicly owned power utilities. The RSLF was established in 2017 by ATI and the German Development Bank to tackle climate change and attract investment in ATI’s member countries by funding renewables.

“COVID-19 has laid bare the link between social infrastructure and economic development. Access to adequate electricity underpins both. This project demonstrates that there is still opportunity and demand for renewable energy projects in Africa. ATI is excited to be part of this potentially transformative project, particularly now, when it is so important to show the world that it is still possible to build sound renewable energy projects that can have lasting change,” said Benjamin Mugisha, ATI’s Chief Underwriting Officer.