A consortium led by Norwegian green energy developer and operator Scatec has signed a commercial agreement to finance, construct, operate and maintain a greenfield hydroelectric power plant with peak capacity of 350 MW in the southern African country of Malawi.
The consortium, which includes the World Bank Group’s International Finance Corp. (IFC) and France-based global energy utility EDF Group, was picked as preferred bidder to co-develop the project with the government of Malawi.