An international solar energy developer-Phanes Group is well equipped to construct the first independent solar power project on Malawi’s commercial scale. The Company is working in collaboration with responsAbility Renewable Energy Holding (RAREH). It has been reported that the Nkhotakota Solar power plant is worth $67M.
The CompanyCompany claimed that the Nkhotakota’s Solar plant would be efficient enough to generate 40MW of power to facilitate the national grid. The CompanyCompany was granted the construction of the plant of 40MW Solar potential back in 2017. The projects before Nkhotakota’s Solar power plant were granted to ESCOM.
Projects permitted to ESCOM include the Salima solar power project of 60MW and Golomoti’s Solar power project of 26MW. Only Salima’s solar power project was completed by the current pronouncement time about the financial settlement’s termination.
Salima Solar Power Project V/S Malawi’s Power Needs
Malawi is highly dependent upon hydropower to meet the power needs of the area. This dependency makes the country exceptionally vulnerable to a power interruption in drought spells. Currently, less than 20% of the population in Malawi is being supplied by power. This situation of power scarcity is casting a botched effect on the industrial sector. To deal with the situation, Malawi hopes to expand the supply of power up to 30% of its population in the next ten years.
On the other hand, the 230,000 solar PV paneled Salima solar power project will generate 60MW of energy under the power purchase agreement for 20 years.
Africa’s Solar Power Project
Depletion in the cost of potential solar technology has paid Africa a huge favor, as the investors are more interested in financing the massive solar potential of Africa now. The government has played a role in encouraging investors to develop independent power producers (IPPs) and support local power expenses. As a result, Africa is bestowed by a swirl of large scale renewable projects.
