By Mc Donald Chapalapata, contributor:
Conglomerate Press Corporation plc (PCL) plans to set up a 50 megawatt (mw) solar power plant at Nkhoma in Lilongwe at an estimated cost of $52.5 million (about K53 billion).
Press Corporation plc Chief Executive Officer Ronald Mangani said in an interview that, in April this year, Electricity Supply Corporation of Malawi (Escom) gave the firm a nod to connect to the 132KV busbar at its Nkhoma substation after implementation of the Malawi-Mozambique 400KV transmission interconnection project.
“We are now setting up a special purpose vehicle (SPV) to conclude a power purchase agreement (PPA) with Escom, and proceed to implement the project as land has already been identified at Nkhoma in Lilongwe,” Mangani said.
He said the project will be concluded by the end of 2024 and operations will start in 2025.
He described the project as critical as it will assist in addressing power challenges that the country is facing.
“PCL will continue to identify and invest in projects that grow shareholders’ value, such as this one, to add to its already strong and diversified portfolio,” Mangani said.
Escom Public Relations Manager Kitty Chingota said the project will be helpful.
“Once connected, it will assist in the provision of adequate power in the country,” said Chingota
Source: The Daily Times_July 13, 2023-Mc Donald Chapalapata-Contributor