Elsewedy Electric to pump 50megawatts to the county's power grid
An Egyptian multi1 electrical company, Elsewedy Electric, on Friday signed a Memorandum of Understanding (MOU) with government to construct a 50 megawatts solar power plant in the country.
Speaking during the signing ceremony in Lilongwe Minister of Energy Ibrahim Matola said the power plant will increase supply of electricity to the already strained hydro power plants in the country.
Matola said the country's power generation depends more on hydro power which has been affected by climate change.
"Earlier this year the country was hit by cyclone ANA which affected power generation at the Kapichira power plant, therefore with this solar power plant we are making headway in diversifying the power supply source in the country," he said.
He said the Government has plans of adding 1000 megawatts to the county's grid by 2025 and this can only be achieved if companies like Elsewedy Electric assist the government towards achieving the goal.
"This solar power plant will potentially be constructed in the northern region this is after necessary feasibility studies are done to ascertain the eligibility."
He added: "We also want to ensure that infrastructure in the energy sector is distributed equally hence our plans of constructing the power plant in the northern region."
In November 2021 the State President Dr Lazarus McCarthy Chakwera attended the Intra-Africa trade fair in Durban South Africa where he had negotiations with President and Chief Executive Officer of Elsewedy Electrical and signed a US$1 billion (K816 billion) deal.
The CEO of Elsewedy said the signing of an MOU in Durban South Africa after fruitful business discussions with president Chakwera is what has yielded the plans of constructing a Solar power plant which will assist the country in improving the electricity supply.
He said the MOU is one of many projects that they are planning to invest in the country adding that they will venture into the hospitality and construction industry.
"Malawi is a good country to invest and grow our business because of its peaceful and fast growing economic landscape," he said.
He said the solar power plant's total estimated cost will be determined after conducting a feasibility study.
During the signing ceremony the Minister of energy was in the company of Minister of Trade and Industry, ESCOM CEO, officials from Egenco and Power Market Limited.
Elsewedy Electricity was founded in 1938 and has been manufacturing and selling integrated energy products and services in seven energy segments.