Malawi has earned an energy deal with a United Kingdom- based company following an audience that President Prof Arthur Peter Mutharika had with the company’s chairperson on Tuesday.
Mutharika is currently in London United Kingdom where he attended a day long UK-Africa Investment Summit on Monday.
The deal, which has been sought with the Private Infrastructure Development Group (PIDG), is in line with Malawi’s efforts in addressing power challenges the country is currently experiencing.
The company is already working on the 60 megawatt Salima Solar Power. It is about to embark on another 20 megawatt project.
PIDG Chairperson, Andrew Bainbridge told Malawi News Agency (MANA) after the audience that the company is playing a critical role in the development of renewable energy, hence the deal to embark on another project that would complement the existing efforts in addressing power challenges in Malawi.
The meeting discussed opportunities to address electrification challenges particularly for the rural areas.
He said the energy sector is very important in achieving tangible economic growth for countries such as Malawi.
“We had fruitful discussions. The president is very keen to talk about power supply in order to enable industrial growth and improve logistics,” he said.
He said power supply has the potential to accelerate growth and value of exports; hence the need to ensure that there is available supply to all.
Bainbridge observed that the company saw the opportunity where it could work together with Malawi Government and as such, it is coming to Malawi in a few months to work on modalities of how to run the forthcoming project.
He said the company intends to use the business potential that Malawi has to reach out to the people with sustainable energy.
“Our job is to facilitate growth and expansion of private sector infrastructure that directly address the needs of the poorest society.
“We believe by creating jobs, by improving access to power for the people in rural areas, improving logistics and growing exports, we are improving the wealth of Malawi,” he said.
In ensuring that energy is available, Malawi will be on the map in terms of being a tourist destination and an investment destination.
Bainbridge described the availability of energy as important, saying it is not easy for the private sector investors to follow a country, but his company can provide logistics to have power.
Sustainable energy is important to progress and remains a key priority area to promoting socio economic growth.