Power Market Limited told to discard investors who are not serious

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Matola (Image: Malawi News Agency)

Minister of Energy Ibrahim Matola has told Power Market Limited (PML) to get rid of investors who are not serious about investing in the energy sector, saying Malawi needs serious investors in order to attain 1000 Megawatts on the national grid by 2025.

Matola said this yesterday when PML launched a compendium pointing out areas and sites where potential investors in the power industry can invest.

Malawi News Agency (MANA) reported that in his remarks at the event, Matola gave PML up to the end of September to provide a report on investors that are ready to invest and discard from the list those who are not serious with investing in the energy sector.

“Any power independent producers who are not showing any preparedness to start investing on the ground are going to be dropped and that opportunity will be given to other serious investors,” he added.

He then called upon ESCOM, EGENCO and PML to work together in achieving the goals of having stable power in the country.

On her part, PML’s Chief Executive Officer, Rosemary Mkandawire, stressed that the institution is working around the clock to bring in more investors so that Malawi gets stable in electricity supply.

She added that Malawi will do better even in the Mining Sector when we have enough energy generation.

“We will seek proper legal advice from the Attorney General, for those not investing despite Malawi government giving them a go ahead,” she explained.

 

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