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Case

Solar energy

Energy storage

Sun power in Malawi

16. November 2022
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Solution provider

Investment Fund for Developing Countries – IFU

IFU is the Danish Development Finance Institution providing risk capital for private sector investments in developing countries and emerging markets. Investments are made on commercial terms in the form of equity, loans and guarantees. The purpose is to support the green transition and create just and inclusive societies.

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Challenge

Malawi is one of the poorest countries in the world and only around 10 per cent of the population has access to electricity. This hampers economic growth and the country’s ability to combat poverty.

Solution

IFU has provided financing for a 20-megawatt PV solar park. The park is the first to introduce Battery Energy Storage System (BESS) in the country, which will lead to improved performance. Financing for the project is made available through Denmark’s Green Future Fund, which is set up to support the green transition in Denmark and abroad.

Result

The solar park will supply more than 100,000 households with green power and reduce CO2 emissions with around 3,000 tCO2e annually.