The African Development Bank (AfDB) says it is ready to support Malawi improve its energy sector through various interventions, including boosting its renewable energy sector.
AfDB president Akinwumi Adesina during his visit to Malawi last week described as unacceptable the low number of people with access to electricity in Malawi, saying this is a barrier to economic growth.
“Our future support to Malawi will include expansion of access to electricity,” said Adesina.
He suggested a change and diversity in the energy supply, suggesting solar as one effective way to improve electrification and support economic growth.
Adesina with Malawi’s low connected grid electricity consumption and projected annual growth at 20 percent against low installed capacity, there is a serious need for massive investment to improve the situation.
The Electricity Supply Corporation of Malawi (Escom) has an installed power supply of 351 megawatts against installed demand at 360 megawatts. This results into frequent rationing of power through load shedding by the corporation, especially when some machinery develop faults.
Statistics indicate that Malawi’s energy generation requirement is further expected to escalate to 829 megawatts by 2020.
According to Adesina, AfDB’s current portfolio in Malawi is about US$310 million, which covers different sectors such as energy.