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Group of Investors want to bring Solar power to Malawi as an alternate source of Energy

Washington, DC, April 21: A Consortium of development partners on Monday called on the president Peter Mutharika to present their proposal to invest in power resource development in Malawi.

Presenting the proposal on behalf of the Development Partners, Professor James Nicholas who is the Executive Partner stated that the proposal outlines the team’s capabilities and interest in assisting Malawi meet its goal of doubling its energy output by year 2020

 

“We recognize that a vibrant energy sector is required to fuel economic growth and industrial development, hence their proposal to work with the Malawi Government to fast track Power Purchase Agreements (PPA) and other regulatory items to facilitate project acceptance”, said Nicholas.   

The Executive Partner assured the president that the team was ready, willing and able to work with Malawi Government through the Ministry of Natural Resources , Energy and Mining to achieve project goals adding that their local Malawi partner was poised to coordinate and facilitate the project development plan in order to meet agreed upon milestones.

Receiving the proposal president Peter Mutharika said that the Malawi Government is committed to strengthening its power capacity to meet the high demand for electricity.

“The current generation capacity of electricity in Malawi stands at 408 megawatts and that the  projections for energy demand suggests that the country will require at least 700 megawatts in 2015 and 829 megawatts in the year 2020”, explained Mutharika.

He added that government has introduced a number of fiscal incentives to stimulate investment in the power resource development with a policy goal of generating and distributing sufficient energy to meet socio economic demands.

In the proposal the development team’s role is to construct a photovoltaic power plant based on the conditions outlined in the Memorandum of Understanding using the Independent Power Producer (IPP) business model in conjunction with the Ministry of Natural Resources, Energy and Mining.

The team once obtains the required permits and approvals will supply the project with low cost, efficient solar modules and systems equipment, provide adequate training to create jobs for the Malawi work force and facilitate security for the project’s operations.

In addition, the Executive Partner informed Mutharika that the development team is capable of building a small solar plant of 1.5MW for between US1.8 million dollars to US2 million dollars and large plants of 100MW for approximately US 200 million dollars, everything being equal.

The Consortium of Development Partners is comprised of Global Business Resources LLC specialized in marketing and infrastructure development company of U.S.A., Flatbush Solar LLC  a US based renewable Independent Power Producer, Kunsons Consulting which is a management and capital venture consulting company that supports and develops its client’s services and products in Africa and international markets.

The fourth development partner is Erie Consulting which is a local startup renewable energy developer engaged in identifying investors to Malawi to assist in the development of its infrastructure and agriculture.

Currently, the team has received MOUs from governments of Cameroon and Nigeria to develop and construct solar power plants to generate between 100 to 500 MW of power.

Maravi Post Reporter
Maravi Post Reporterhttps://www.maravipost.com/
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