Inadequate power a setback to mining industry in Malawi

Minister of Energy, Ibrahim Matola, has admitted that Malawi has inadequate power for mining as it requires around 700 megawatts against the current 550.

Matola said this on Tuesday during a stakeholder’s workshop on attracting finance and investment for the energy transition in Malawi held in Lilongwe. He said the demand for power remains high and called for support from various stakeholders.

“The president made an emphasis on investing a lot in electricity generation. Once we have enough power, we can distribute and transmit and improve access to electricity,” remarked Matola.

Chief Executive Officer for Malawi Investment and Trade Centre, Paul Kwengwere, told the local media that at least 15 companies have shown interest in investing in solar energy in Malawi.

Said Kwengwere:“We’ve got quite a number of countries that are interested in getting into energy. It’s just a matter of diversification. We don’t want to put all our eggs in one basket. So we want to utilise the rivers in the north in terms of hydro. We would like to have solar energy and all different energy technologies that are coming forth.”

At the workshop, United Nations through its Trade and Development Economic Affairs Directorate, expressed commitment to helping Malawi address its energy financing challenges.