African energy and power group to boost power supply in Malawi
Malawi is expected to receive a boost in power supply through private production scheme by AFRICAN ENERGY AND POWER (MALAWI) LTD, a subsidiary of GDP CAPITAL AND MINERALS GROUP.
The African Energy and Power (Malawi) Ltd, which majors in power generation from coal and distribution of liquid fuels, has revealed its plan to develop an energy solution in Malawi by investing in a 50Mgw coal power plant in Karonga district, scheduled to commence once all regulatory approvals have been granted.
Speaking to Maravi Post through a correspondence from the Group’s Head Quarters in South Africa, the founder and Executive Chairman of GDP CAPITAL AND MINERALS GROUP, Mr. Lumbani Mbale, has revealed that the Group is excited and geared to become an active player in the country’s mining and energy sector through the African Energy and Power (Malawi) Ltd.
“GDP CAPITAL AND MINERALS LTD exists to provide sustainable and innovative mining and energy solutions to the Sub Saharan Africa and through African Energy and Power (Malawi) Ltd, we are geared to contribute to Malawi’s energy sector,” said Mbale.
“As an emerging exploration and mining company in Malawi, the African Energy and Power (Malawi) Ltd has a mission that is aligned to The National Energy Policy of Malawi (2018) and the Energy Action Agenda for 2030 (2017) which envisions 30% access to the energy grid by 2030. We have observed that overreliance on hydropower which is currently Malawi’s major source of electricity is negatively affecting the reliability of the electricity supply due to the fluctuating hydrological trends. In order to affectively achieve the envisioned increasing of access to the electricity grid in Malawi, there is need to diversify power generation from hydro to other alternatives including coal. The gap in the energy sector is enormous and our company has deemed it imperative to seize this opportunity,” Mr. Mbale said in his statement.
The Chairman of the Group further highlighted that; “once operational, the company projects an annual sales volume of up to 416,000 MWh with a capacity factor of about 95%. We have meanwhile engaged the Malawi Department of Energy Affairs and the newly established Power Market Limited (PML) a possible Power Purchase Agreement.”
According to the company’s Exploration Geologist Daniel Kilembe, GDP CAPITAL AND MINERALS has already secured over 100 Million Tons of potential coal reserves held in various exploration rights in Malawi and Northern Zambia, covering approximately 2500 Square kilometers in total.
GDP CAPITAL AND MINERALS (MALAWI) LTD is part of the GDP CAPITAL AND MINERALS GROUP (SOUTH AFRICA) LTD whose primary business is exploration and mining of coal and copper in Sub Saharan countries. The company has offices in South Africa, Malawi and Zambia and its main exploration targets are the coal reserves in the Wenya-Nthalire, Mwankenja North, Lufira and Mpangala Coal Fields in Malawi and Zambia respectively.
The Coal power plant project will be funded with the assistance of the group’s various strategic equity partners in South Africa.
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