The Malawi Investment and Trade Centre (MITC) says it has received about 15 expressions of interests from various companies interested to invest in the generation power from solar in the country.
Meanwhile, the Ministry of Natural Resources, Energy and Environment says the country’s energy investments should minimise reliance on hydro energy which is prone to problems associated with climatic change and reduced water levels.
MITC chi e f executive officer, Clement Kumbemba, said it was good news for Malawi that there are already several companies that are interested in investing in renewable energy such as solar.
“Some of them have already been given land for their investments,” said Kumbemba.
He said the problems being experienced with hydro power generation should come as an investment opportunity since there are several alternative sources of power that require investments, citing solar, coal, wind and others.
One of the companies, Atlas Energies, has already been allocted land to set up 160 solar panels for the production of 40 megawatts of electricity that will be connected into the Escom grid.
Director of Energ y in the Ministry, Lewis Mhango, said it was high time Malawi reduced its focus and reliance on hydro power in the wake of challenges being experienced through Escom.
He mentioned the proposed Kamwamba coal powered generation project as one of the projects that will help Malawi reduce its dependence on hydro power.
Malawi’s power generation is 99 percent dependent on hydro power plants which include Nkula, Tedzani, Kapichira and Wovwe.