Transaction Summary
InfraCo Africa Ltd (InfraCo Africa), part of the Private Infrastructure Development Group (PIDG), signed an agreement to sell its 25% stake in Golomoti JCM Solar Corporation Ltd (Golomoti Solar) to Old Mutual Infrastructure Investment Trust Fund (Malawi) (Old Mutual Malawi), part of Old Mutual Investment Group's Alternative Investments division. In 2018, InfraCo Africa invested $2.3 million and partnered with JCM Power, a Canadian Independent Power Producer of clean energy, to co-develop the Golomoti Solar project in Malawi. The Golomoti Solar plant, operational since March 2022, is a 20MWac facility located in Dedza District, Malawi, and features a pioneering 5MW/10MWh battery energy storage system—the first utility-scale grid-connected battery energy storage system in sub-Saharan Africa. Old Mutual Infrastructure Investment Trust Fund (Malawi) is an open-ended fund focusing on infrastructure projects within Malawi, aiming to deliver sustainable returns while fostering local development. The transaction is expected to conclude in August 2025, with JCM
