Firm invests $148 million in renewable energy

Post was last updated: May 23, 2019

By William Kumwembe:

GIRON—The project is remarkable

Germany-based renewable energy firm, Droedge Energy, has invested $148 million in renewable energy generation in the country.

The company, an independent power producer (IPP), is expected to start generating the energy through wind and solar in 18 months.

Through two projects of Monkey Bay Solar and Mzimba Wind, the firm would be adding 20 megawatts (MW) of solar power and 40MW of wind power to the national power grid.

The generated power would fit into the national power grid through power infrastructure built under the $350.7 million (about K257 billion) energy compact through the Millennium Challenge Corporation.

The infrastructure has helped to modernise electricity transmission and distribution infrastructure in the country.

The additional power is expected to help narrow the gap between electricity supply and demand.

Speaking after signing a Power Purchase Agreement (PPA) with Electricity Supply Corporation of Malawi (Escom), on Monday, Droedge Energy Strategic Key Account Manager, Carlos Giron, said the firm was committed to contributing towards development of local energy sector.

“We have two projects we are developing; Mzimba Wind Project is valued at $128 million valued while Monkey Bay Solar Project is valued at $20 million. The Monkey Project is remarkable for us because it is the first of its kind in Africa,” Giron said.

He said the firm was happy to contribute towards keeping the country “clean and green”.

On Monday, Escom signed fourteen PPAs with four IPPs that could add 140MW to the national power grid.

Of the 14 agreements, 10 are under the Energy Generation Company which is already feeding into the national grid.

Currently, the generation capacity by Egenco hovers between 230MW and 250MW, of which 71MW is produced from diesel-powered generators.

The other three IPPs are; Droege which will be producing 20MW and 40MW of solar and wind power, respectively; and, Quantel, which will contribute 50MW through solar and Atlas which will add another 20MW solar power.

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