Egyptian multinational electrical company, Elsewedy Electric, on Friday signed a Memorandum of Understanding (MOU) with Malawi 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 power generation to the country’s already strained hydro power plants.
Matola said the country’s power generation depends more on hydro power which has been affected by climate change.
He added that 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.
In November 2021 the President 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 the county’s President is what has yielded the plans of constructing a Solar power plant which will assist the country in improving the electricity supply
Writing on Facebook yesterday, President Chakwera said his administration recognizes that industrial and socio-economic development of Malawi is highly dependent on modern, reliable and sufficient energy.
“The Elsewedy Electric deal, aligns to our goal of adding a further 1000 megawatts to the national grid, hence, supporting a range of economic activities by industries and the general populace,” he said.
