• Mon. Jun 5th, 2023

Chakwera Woos MyHydro US to Invest in Malawi’s Energy Sector

Apr 11, 2022

By Cedric Nkungula

“The company is expected to start it’s operations in the country as soon as all logistical processes are put in place.”

President Dr. Lazarus Chakwera has successfully negotiated with a leading United States (US) based off – grid hydro power electricity giants MyHydro to set up a a sister company in Malawi to help mitigate energy deficiencies in the country.

To be supported by US Government and fully owned and run by Malawian women, the company will be called MyHdro Malawi.

The company is expected to start it’s operations in the country as soon as all logistical processes are put in place.

The development follows a virtual meeting between President Dr. Lazarus Chakwera and Chairman of Invest Africa Paul Hinks few months after taking over power in 2020.

Speaking at the just ended high level Intergenerational Dialogue on Generation Equality and Women’s Leadership in Africa Conference in Lilongwe, Hinks said MyHydro Malawi will deliver affordable electricity to Malawians as well as to commercial consumers at very competitive prices.

Hinks explained that time has come for Malawi to reclaim it’s place as one of the leading destinations on the African continent.

“I am therefore announcing today that we will be working with a group of women from Malawi and the United States will join forces as the owners of a new local power development company called MyHydro Developments Malawi. This company will be searching for off – grid opportunities to supply affordable power to communities across the country and it will collaborate with other players in the energy sector,” he added.

“MyHydro in New York will provide MyHydro Malawi with whatever resources and support it needs for it to successfully launch it’s operations in Malawian.”

Hinks also revealed to have had an audience with Chakwera on the sidelines of the conference where he promised to assist the country to increase foreign direct investment.

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