The World Bank has approved a $350 million grant for a hydropower storage project in Malawi. The Mpatamanga Hydropower Storage Project aims to significantly increase the country's electricity generation capacity.
The project is expected to supply electricity to over 1 million new households and create thousands of jobs. The public-private partnership, costing over $1.5 billion, will be the largest foreign direct investment in Malawi's history.
The project will have a total generation capacity of 358 megawatts. It will double Malawi's installed hydropower capacity by building two dams along the Shire River.