Malawi President Dr Lazarus Chakwera says the 1 Billion USD electricity deal is expected to end energy challenges in the country.
Posting on his official Facebook page, Chakwera hailed the deal saying it is inline with Government plans to end persistent blackouts facing the nation.
“By now you must have heard the exciting news about the 350 megawatt Mpatamanga Hydro Power Plant on Shire River to be developed by a consortium composed of EDF Group and Scatec together with its venture partners, British International Investment and Norfund,” he said.
Chakwera adds,” The Government of Malawi has been fully supported by the World Bank through International Finance Corporation in project development and tendering processes.”
The Malawi leaders says he is delighted because the $1 Billion electricity deal speaks into his administration’s target of adding 1000 megawatts to the grid in the next three years.
“This sort of investment also indicates that Malawi is now an attractive destination for private sector investment in the energy sector,”
“We are surely turning the corner towards developing the energy sector into a backbone of economic transformation,” Chakwera said.
Speaking during the signing ceremony yesterday in Malawi’s capital, Lilongwe, US Ambassador to Malawi David Young revealed that the US is committed to support the country in the energy sector. The signing ceremony was presided over by Minister of Energy Ibrahim Matola and Minister of Finance Sosten Gwengwe.